HomeMy WebLinkAboutCity Council Resolution 1995-544M
RESOLUTION NO. 95 - 544
REDUCING REQUIRED FINANC AL GUARANTEE
HARRISON PLACE ON BASS CREEK ADDITION (94051)
WHEREAS, in accordance with the development contract dated December 5, 1994, McHunter Co.. LLC,
developer of Harrison Place on Bass Creek Addition (94051), has agreed to install certain improvements
for said development; and
WHEREAS, die 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:
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ORIGINAL
AMQLINT
NEW
AMOUNT
Street Construction
$114,275
$114,275
Co. Rd. 10 Turn Lane
29,260
29,260
Sanitary Sewer
50,178
109035
Watermain
77,710
15,542
Storm Sewer
81,580
30,000
Boulevard and Drainage Swale Sod
4,000
4,000
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
3,040
610
Wetland Buffer Delineation Posts
2,000
400
Street Signs (4 x 200)
800
800
Site Grading and Drainage Improvements
99,760
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
51000
5,000
Design, Administration, Inspection, As-Builts
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25.191
TOTAL
$5230715
$235,113
That the required financial guarantee for the above items be reduced as detailed above from $396,094 to
$235,113 to reflect the completed work. The required Financial Guarantee in the form of Letter of Credit
No. 1648 -895 -DI may be reduced accordingly.
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RESOLIMON NO, 9S-544
GARRISON PLACE ON BASS CREEK ADDITION (94051)
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FURTHER BE TT RESOLVED dwt the financial guarantee requiramts for the following items per
Section 8.1 of the approved development contract be reduced as follows:
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Maintenance of Brodon and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Crib: $10000 $19000
Letter of Credit: $239750 $239750
Adopted by the City Council on September 19, 1995.
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