HomeMy WebLinkAboutCity Council Resolution 1995-631RESOLUTION NO. 95- 633
REDUCING REQUIRED FINANCIAL GUARANTEE
BRIDLEWOOD FARM 3RD ADDITION (930:11)
,EREAS, in accordance with the development contract dated June 5, 1993, U.S. Home Corporation,
eeloper of Bridlewood Farm 3rd Addition (93021), has agreed to install certain improvements for said
celopment; and
I;iERBAS, the developer has completed a portion of the street, utility and site grading as noted below;
fey
AEREAS, the developer has requested a reduction of the required financial guarantee to reflect the
work;
(DW, THHRBFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
f.YMOUTH, MINNESOTA; that the imancial guarantee requirements are reduced as follows:
That the financial guarantee required for the above items he reduced as detailed above from $35,168 to
5,600 to reflect the completed work. Letter of Credit No. FGAC - 93052 may be reduced accordingly.
ORIGINAL
AM
NEW
AM4�
Street Construction (Except City Proj. No. 304)
$1740000
$-0-
Sanitary Sewer (Except City Proj. No. 304)
35,700
-0-
Watewiain (Except City Proj. No. 304)
47.700
-0-
Storm Sewer (Except City Proj. No. 304)
640200
-0-
Boulevard and Drainage Swale Sod
10,400
-0-
Pond or Ditch Construction
-0-
-0-
Street Signs (5 x 200)
10000
10 -
Site Grading and Drainage Improvements
379,800
50000
Park and Trail Improvements
37,000
-0-
Setting Iron Monuments
7,350
-0-
Design, Administration, Inspection, As-Builts
90.858
—M
TOTAL
$8480008
$5,600
That the financial guarantee required for the above items he reduced as detailed above from $35,168 to
5,600 to reflect the completed work. Letter of Credit No. FGAC - 93052 may be reduced accordingly.
IESOLUTION NO. 95- 631
1R.IDLEWOOD FARM 3RD ADDMON (93021)
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:
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Casa:
Letter of Credit:
Adopted by the City Council on October 24, 1995.
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$1,000 $11000
$579000 $14,250