HomeMy WebLinkAboutCity Council Resolution 1995-635•
( RESOLUTION NO. 95. 635
REDUCING REQUIRED FINANCIAL GUARANTEE
COURTYARDS OF FRENCH CREEK ADDITION (93034)
WHEREAS, in accordance with the development contract dated May 11, 1993, The Courtyards of French
Creek, a Minnesota Partnership by Contractor Property Developers Company, its General Partner,
developer of Courtyards of French Creek (93034), 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 THB CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
ITB
ORIGINAL
AMS
NEW
AMOT
Street Construction
$74,312
$26,860
Sanitary Sewer
48,810
-0-
Watermain
40,923
-0-
Siorm Sewer
30,600
-0-
Boulevard and Drainage Swale Sod
51000
800
Drainage Pond Construction
21000
400
Street Signs (1 x 200)
200
-0-
Site Grading and Drainage Improvements
29,775
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
11875
-0-
Design, Administration, Inspection, As-Builts
28,019
Im
TOTAL
$261,514
$31,427
That the required financial guarantee for the above items be reduced as detailed above from $32,323 to
$31,427 to reflect the completed work, Letter of Credit No, 930519-1A may be reduced accordin0y.
RESOLUTION NO. 95- 635
COURTYARDS OF FRENCH CREEK ADDITION (93034)
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:
M g
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 930519-1B:
Adopted by the City Council on October 24, 1995
1 11 C1
x1 • a : 0 JAM
51,000 51,000
$11,930 $2,983