HomeMy WebLinkAboutCity Council Resolution 1995-160r
RESOLUTION NO. 95 - 160
REDUCING DEVELOPMENT BOND
CAMELOT OVERLOOK ADDMON (93035)
WBEREAS, in accordance with the development contract dated September 12, 1994, North Suburban
Development, Inc., developer of Camelot Overlook Addition (93035), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has complexed a portion of the street, utility and site grading as noted below;
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WHEREAS, the developer has requested a reduction of the development bond to reflect the completed
work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
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ORIGINAL
NEW
AMQVIIT
AMcZ�INT
Street Construction
$170,000
34,000
Reconstruct Gravel Road (Yenium Lane)
29425
485
Sanitary Sewer
1310000
2692W
Watermain
121,000
24,200
Storm Sewer
870000
17,400
Boulevard and Drainage Swale Sod
14,000
14,000
Mitigation Pond Censtruction
4,200
41200
Sediment Pond Construction
11800
10800
Street Signs (4 x 200)
800
8W
Site Grading and Drainage Improvements
174,000
17,400
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
3,200
3,2W
Design, Administration, Inspection, As-Builts
85.131
17.242
TOTAL
$794,556
$160,927
That the letter of credit required for the above items be reduced as detailed above froin $794,556 to
$160,927 to reflect the completed work. The required Letter of Credit may be reduced accordingly.
•
RESOLUTION NO. 95- 160
( :A IELOT OVERLOOK ADDITION (93035)
Pate Two
FURTH13R BE IT RESOLVED that the bonding requirments for the following items per Section 8.1 of
the approved development contract be reduced as follows:
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Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storrs
Sewer Cleaning (See Grading Permit No. 60534
for the financial guarantee requirements)
Cash:
Letter of Credit No. 104-402 P:
Adopted by the City Council on March 79 1995.
$1,000
$39,500
„ 511) z VR
51,000
$19,750