HomeMy WebLinkAboutCity Council Resolution 1995-636n
RESOLUTION NO. 95 - 636
REDUCING REQUIRED FINANCIAL GUARANTEE
QUAIL HOLLOW ADDITION (93134)
WHEREAS, in accordance with the development contract dated January 11, 1994, Contractor Property
Developers Company, developer of Quail Hollow Addition (93134), 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 THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
M =4
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Sediment Pond Construction
Street Signs (6 x 200)
Site Grading and Drainage Improvements
Park and 'hail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
$173,405
$34,681
81,428
8,143
64,550
6,455
269650
2,665
8,400
2,400
-0-
-0-
3,500
-0-
1,200
-0-
101,500
-0-
-0-
-0-
-0-
-0-
51M
x,521
$515,909 $60,865
That the required financial guarantee for the above items be reduced as detailed above from $62,881 to
$60,865 to reflect the completed work, letter of Credit No, 940118-1A maybe reduced accordingly.
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RESOLUTION NO. 95- 636
QUAIL HOLLOW ADDITION (93134)
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:
r r1„
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (sae Grading Permit No. 57307
for financial guarantee requirements.)
Cash:
Letter of CMdit:
Adopted by the City Council on October 24, 1995.
F�Nmflwv . „ • �.r
$11000 $1,000
$29,000 $14,500
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