HomeMy WebLinkAboutCity Council Resolution 1995-634•
RESOLUTION NO. 9S- 634
REDUCING REQUIRED FINANCIAL GUARANTEE
TBE PONDS AT BASS CREEK ADDITION (93106)
WHEREAS, in accordance with the development contract dated July 15, 1994, McHunter Co., LLC,
developer of The Ponds at Bass Creek Addition (93106), 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 1T HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, NIINNESOT.N; that the financial guarantee requirements are reduced as follows:
ITEM
ORIGINAL
AR0
NEW
AM4V�TT
Street Construction
$ 75,420
s 25,000
Sanitary Sewer
50,290
10,058
Watermain
46,046
91209
Storm Sewer
24,035
41807
Boulevard and Drainage Swale Sod
51000
51000
Mitigation Pond Construction
14,400
40000
Sediment Pond Construction
3,880
776
Street Signs (2 x 200)
400
400
Site Grading and Drainage Improvements
490800
91960
Emergency Access
81100
10620
Park and Trail Improvements
10-
-0-
Wetland Buffer Delineation Posts
1,600
320
Setting Iron Monuments
1,875
900
Design, Administration, Inspection, As-Builts
A=
,iiLfAfi
TOTAL
$ 314,548
$80,696
That the required financial guarantee for the above items remain as detailed above at $80,696 to reflect the
completed work. Letter Of Credit No. 1457-9408 A shall remain at that amount.
The developer has provided a $5,000 letter of credit to guarantee that the integrity of 55th Avenue North
is maintained and not damaged by the development contract. The letter of credit was to remain in effect
until the base asphalt has been placed within the plat. The required work has been completed and the
$5,000 letter of credit is reduced to $0 (zero) and is hereby released.
•
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RESOLUTION NO. 95- 634
The Ponds at Base Creek Addition (93106)
Page Two
FURTABR BE IT RBSOLM that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
v � ��M : v • 1�M
Maintenance of Broslon and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash: $ 11000 $ 1,000
Letter of Credit: $14,400 $14,400
Adopted by the City Council on October 24, 1995.