HomeMy WebLinkAboutCity Council Resolution 1995-197•
( RESOLUTION N0.95- 197
REDUCING DEVELOPMIM BOND
PLYMOUTH OAKS ADDITION (93078)
WHEREAS, in accordance with the development contract dated October 25, 1993, Dahlstrom Companies,
Inc., D.W. Peterson Homes, Inc. and Tony Eiden Company, developer of Plymouth Oaks Addition
(93078), has agreed to install certain improvements for said development; and
WHEREAS, the developer has completed a portion of the street, stility and site grading as noted below;
and
WHEREAS, the developer has requested a reduction of the development bond to reflect the completed
work;
NOW, TFEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Sedur.nent Pond Construction
Street Signs (4 x 200)
Site Grading and Drainage Improvements
Park and Tmil Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
$227,000
$450400
130,000
-0-
81,000
-0-
44,000
-0-
8,000
4,000
15,750
3,150
5,250
11050
800
-0-
84,000
-0-
-0-
-0-
4,000
11000
71.976
6.552
$671,776 $61,152
That the letter of credit required for the above items be reduced as detailed above from $94,528 to
$61,152 to reflect the completed work.
I
RESOLUTION No. 9S-197
PLYMOUTH OAKS ADDITION (93078)
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of
the approved development contract be reduced as follows:
09
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See grading Permit No. 56606
for Required Financial Guarantees)
Cash:
Letter of Credit: 28214-A,
( adopted by the City Council on March 21, 1995.
ro �) (011) � I : u • ) V
$1,000 $10000
$299000 $149500
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