HomeMy WebLinkAboutCity Council Resolution 1995-393•
RESOLUTION NO. 95 - 393
REDUCING REQUIRED FINANCIAL GUARANTEE
HICKORY HIIJ ADDITION (94091)
WHEREAS, in accordance with the development contract dated September 27, 1994, Prime Builders,
developer of Hickory Hills Addition (94091), has agreed to install certain improvements for said
development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading as noted below;
and
WHEREAS, the developer has requested a reduction of the development bond to reflect the completed
work;
NOW, THERRFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Sediment Pond Construction
Street Signs (1 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
• ri
I • jel . u • M
$51,370
$7,250
-0-
-0-
23,920
-0-
-0-
-0-
3,800
3,11W
3,000
-0-
-0-
-0-
200
200
110,400
-0-
11,648
11,648
-0-
-0-
.24,521
tum
$2280859 $25,646
That the required financial guarantee for the above items be reduced as detailed above from $228,859 to
$25,646 to reflect the completed work. Letter of Credit No. 1506-9410A may be reduced accordingly.
..OWLDW
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RESOLUTION NO. 95- 393
HICKORY HILLS ADDITION (94091)
Pap Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
Y V =IT
Maintenance of Erosion and Sediment
Control Plan Strad Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 1506-941OC:
z,• hM:J)• fel
Sl,000 5100
$28,745 $14,238
FURTHER BE IT RESOLVED that the 12 inch watermain construction in Nathan Lane is accepted for
continual maintenance as of July 11, 1995 subject to the Two Year Guarantee by the Developer per
Maintenance Bond No. BNS 1363323.
1
Adopted by the City Council on July 11, 1995.
C7