HomeMy WebLinkAboutCity Council Resolution 1995-633•
RESOLUTION NO. 9S - 633
REDUCING REQUIRED FINANCIAL GUARANTEE
HOLLY CREEK 3RD ADDITION (94124)
WHEREAS, in accordance with the development contract dated November 7, 1994, Scherber Partnership
Properties, developer of Holly Creek 3rd Addition (94124), 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 -IM 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
Sediment Pond Construction
Street Signs (2 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Admini,.ration, Inspection, As-Builts
HOIL.1
$70,778
$14,156
54,284
51428
48,490
4,849
39,935
399
4,800
4,800
-0-
4
-0-
-0-
400
400
64,690
6,469
6,750
675
21400
2,400
35,103
4.749
$327,630 5441325
That the required financial guarantee for the above items be reduced as detailed above from $131,049 to
$44,325 to reflect the completed work, The required Letter of Credit may be reduced accordingly,
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RESOLUTION NO. 9S- 633
HOLLY CREEK 3RD ADDPITON (94124)
Page 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:
of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 62344
for financial guarantee requirements)
Cash:
Letter of Credit:
Adopted by the City Council on October 24, 1995.
:�• ��r :�,• j
$-0- $-0-
$-0- S -O-
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