HomeMy WebLinkAboutCity Council Resolution 1995-361RESOLUTION NO, 95 - 361
REDUCING REQUIRED FINANCIAL GUARANTEE
FERNBROOH WOODS 2ND ADDITION (94618)
WEER AS, in accordance with the development contra t dated February 249 1995, Marvin H. Anderson
Caostnxfiw, developer of Fembroolc Woods 2nd Addition (94018), has agreed to install certain
improvements for said development; and
Wi REAS, the developer has completed a portion of the street, utility and site grading as noted below;
and
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That the letter of credit required for the above items be reduced as detailed above from $514,976 to
$122,808 to reflect the completed work. The required Letter of Credit may be reduced accordingly. In
this instance a cash deposit is being submitted.
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NEW
Street Construction (Does not include
$93,500
$93,500
City Proj. No. 213)
Sanitary Sewer
65,200
-0-
Watermain
500500
-0-
Storm Sewer
66,200
-0-
Boulevard and Drainage Swale Sod
61800
618W
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
109000
2,000
Street Signs (3 x 200)
600
600
Site Grading and Drainage Improvements
1650000
61750
Park and Trail Improvements
-0-
-0-
Setting Imn Monuments
2,000
21000
Design, Administration, Inspection, As -Bunts
mum
11.158
TOTAL
$514,976
$122,808
That the letter of credit required for the above items be reduced as detailed above from $514,976 to
$122,808 to reflect the completed work. The required Letter of Credit may be reduced accordingly. In
this instance a cash deposit is being submitted.
RIESOIAMON No. 95. 361
( FBRNBROOH WOODS 2ND ADDITION (91018)
Pais Two
FURTHER BE IT RESOLVED 1' the financial 1requirements 1 the following .-II 1.1
Section 1 I approved 1 11 IL-11 contract 1 reduced follows:
h1sintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (Sce Grading Permit No. 61834
for financial requirements)
Crib:
C&O in lieu of Letter of Credit:
$19000 $1,000
$21,500 $21,500
FURTHER BE IT RESOLVED that the unitary sewer, watennain and storm sewer construction is
accepted for continual maintenance as of June 20, 1995 subject to the two year guarantee by the developer
per the required maintenance bond.
l Adopted by the City Council on June 20, 1995.
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