HomeMy WebLinkAboutCity Council Resolution 1995-63011
RESOLUTION NO. 95- 630
REDUCING REQUIRED FINANCIAL GUARANTEE
PLYIIZOUTH POINTE ADDITION (92034)
WHEREAS, in accordance with the development contract dated September 29, 1992, Good Value Homes,
Inc., developer of Plymouth Pointe Addition (92034), has agreed to install certain improvements for said
development; and
WHEREAS, the developer has completed a portion of the strert, 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:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Street Signs (4 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
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$1069800
$ 40-
75,600
-0-
29,300
-0-
72,500
-0-
9,200
-0-
-0-
-0-
600
.0-
128,000
-0-
.0-
-0-
2,000
1,000
50,568
—M
$473,968 $1,120
That the financial guarantee required for the above items be reduced as detailed above from $4,360 to
$1,120 to reflect the completed work, Letter of Credit No. 10065 may be reduced accordingly.
RESOLUTION NO. 9S- 630
mYMOUTH Pop= ADDITION (92034)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee for the following items per Section 8.1 of the
approved development contract be reduced as follows:
AM
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (Per Grading Permit No. 49080)
Cash:
Letter of Credit:
Adapted by the City Council on October 24, 1995.
• i
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$ 1,G00 $ 19000
$19,750 $-0-
•