HomeMy WebLinkAboutCity Council Resolution 1995-3940
RESOLUTION NO, 95 - 394
REDUCING REQUIRED FINANCIAL GUARANTEE
HUNPFAS BLUFF ADDITION (94145)
WHEREAS, in accordance with the development contract dated February 21, 1995, S.T. dt M., Inc.,
developer of Hunters Bluff Addition (94145), 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 required financial guarantee to reflect the
completed work;
NOW, THERWORE, BE TT HEREBY RESOLVED BY THE CnY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced a2 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
•' C1 -'
omf nv ; ,, • !.r
$60,000
$60,000
500000
109000
44,000
80800
37,000
7,400
1,600
10600
-0-
-0-
7,500
11500
200
200
27,000
51400
-0-
-0-
1,500
1,5W
27.456
_11,54$
$256,256 $107,968
That the required financial guarantee for the above Items be reduced as detailed above from $256,256 to
$107,968 to reflect the completed work, The required Letter of Credit may be reduced accordingly.
lNMIUAOC
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•
RESOLUTION NO. 95. 394
HUNTERS BLUFF ADDMON (94146)
Pop TWO
FURTHER BE IT RESOLVED that the financial guarantee re* mcilts for the following +temS per
Section 8.1 of the approved development contirct be reduced as follows:
Maintenance of Broaion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash: $1,000 $1,000
Letter of Credit: $49200 $4,200
Adopted by the City Council on July 11, 1995.
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