HomeMy WebLinkAboutCity Council Resolution 1995-511•
RESOLUTION NO. 95 - 511
REDUCING REQUBtM FINANCIAL GUARANTEE
HUNTERS BLUFF ADDMON (94145)
WHEREAS, in accordance with the development contract dated February 21, 1995, S.T. & 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, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
FV -N-IT
1 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
• `ii
01 i
KI u Lei 1)e9 : ,, • �.ri
$60,000
$20,000
50,000
10,000
44,000
82800
37,000
7,400
1,600
19600
-0-
-0-
7,500
11500
200
200
27,000
51400
-0-
-0-
1,500
11500
17.456
6.768
$256,256 $63,168
That the required financial guarantee for the above items be reduced as detailed above from $107,968 to
$63,168 to reflect the completed work. The required Letter of Credit may be reduced accordingly.
IRMW.MC
•
RESOLUTION NO. 95- 511
RWn S BLUFF ADDITION (94145)
Pais Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section S.1 of the approved development contract be reduced as follows:
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sower Cleaning
Cash: 51,000
Letter of Credit: $4,200
Adopted by the City Council on September 5, 1995.
$1,000
$4,200
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