HomeMy WebLinkAboutCity Council Resolution 1995-545RESOLUTION NO. 95 -545
REDUCING REQUIRED FINANCIAL GUARANTEE
FERNBROOK WOODS 2ND ADDITION (94018)
WHEREAS, in accordance with the development contract dated February 24, 1995, Marvin H. Anderson
Construction, devd qW of Fe rnbrook Woods 2nd Addition (94018), 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;
iT
ORIGINAL
AM
NEW
AMOUNT
Street Construction (Does not include
$93,500
$15,510
City Prof. No. 213)
Sanitary Sewer
659200
4
Watermain
500500
4
Storm Sewer
669200
4
Boulevard and Drainage Swale Sod
6,800
698M
Mitigation Pond Construction
-0-
4
Sediment Pond Construction
109000
29000
Street Signa (3 x 200)
600
600
Site Grading and Drainage Improvements
165,000
6,750
Park and Trail Improvements
-0-
4
Setting Iron Monuments
29000
21000
Design, Administration, Inspection, As-Buiits
55,176
4.039
TOTAL
$514,976
$379699
That the Financial Guarantee required for the above items be reduced as detailed above from $122,808 to
$37,699 to reflect the completed work. The required Financial Guarantee may be reduced accordingly.
In this instance a cash deposit was submitted.
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RBSOLIMON No. 95. 545
4BRNBROOK WOODS 2ND ADDITION (94018)
ftp Two
FURTHER BE IT RESOLVED that the financial guamntoe requirement for the following items per
Section 8.1 of the approved deveippmen cont w be reduced as follows:
l.r .I „ • I l.r
Maintenance of Brosion and Sediment
Control Plan Street Sw4ep4 and Storm
Sewer Cleaning (See Gnft Permit No. 61834
for financial requirements)
Crib: $19000 $1,000
Cash in lieu of Letter of Credit: $21,500 $210500
4dopted by the City Council on September 19, 1595.
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