HomeMy WebLinkAboutCity Council Resolution 1995-400r�
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( RESOLUTION No. 93. 400
REDUCING REQUIRED FINANCIAL GUARANTEE
PARICERS LAKE NORTH 2ND ADDITION (93067)
SHENANDOAH LANE EXTENSION
WHBRBAS, in accordance• with the development contract dated July 12, 1993, Laukka WiWams Parioers
?Ake sad the City of Minneapolis, developer of Parkers Lake North tad Addition - Shenandoah Lane
Extension, (93067), has Weed to install certain improvements for said development; and
WEMPJ AS, the developer has completed a portion of the street, utility and site grading as noted below;
and
WHBRBAS, the developer has requested a reduction of the required financial guarantee to reflect the
completed work;
• ` I:1 ;t' • 'I:t :t: • :1•1,61:1611149111MI • ' .I: lW1111, •
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Street Construction
Sanitary Sewer
Salvage Removal & Installation
Wacermain
Storm Sewer
Median Landscaping & Irrigation
Boulevard and Drainage Swale Sod
Drainage Fond Construction
Mitigation 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
$229,013
$-0-
18,464
-0-
3,802
-0-
UJ,984
-0-
183,911
4
44,095
-0-
12,700
-0-
-0-
-0-
95,600
-0-
200
-0-
114,383
-0-
24,100
-0-
-0-
-0-
105.870
$
$988,122 $-0-
That the required financial guarantee for the above items be reduced as detailed above from $2,000 to $0
(zero) to reflect the completed work.
RESOLUTION N0.95. 400
?ARKERS LAKE NORTH 2ND ADDITION (9306'11
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:
M =�v • i t
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Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash: $10000
Latter of Credit: $23000
Adopted by the City Council on July I1, 1995.