HomeMy WebLinkAboutCity Council Resolution 1995-637t RESOLUTION NO, 95 - 637
REDUCING REQUIRED FINANCIAL GUARANTEE
BOULDER CREST z .DDTTION (90095)
WHEREAS, in accordance with the development. contract dated June 12, 1991, Builders Development,
Inc., developer of Boulder Creat Addition (90095), 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 TT HEREBY RESOLVED BY THE CTTY COUNCIL OF THE CITY OF
PLYMOUTH, M24NESOTA; that the financial guarantee requirements are reduced as follows:
Street Construction
Connty Road 101 Turn Lane
Sanitary Sewer
Watermain (*Does not include oversizing cost
of $28,000)
Storm Sewer
Boulevard and Drainage Swale Sod
Sediment Pond Construction
Street Signs (7 x ISO)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
1 i .;�
u nM - 6 1 1
$180,000
$ -0-
209000
-0-
85,000
-0-
*102,000
-0-
81,000
-0-
11,600
-0-
-0-
-0-
1,050
-0-
160,000
-0-
-0-
76.878
-0-
-0-
$717,528 $ -0-
That the required financial guarantee for the above items be reduced as detailed above from $2,912 to $0
to reflect the completed work. Letter of Credit No, 8041 may be reduced accordingly and will be released
by the Finance Department,
UMOOMI,Wc
RESOLUTION NO. 95.637
BOULDER CREST ADDITION (90095)
Pa=e 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:
: RIPR94
Maintenance of Erosion and Sediment
Control Plan Strut Sweeping and Storm
Sewer Cleaning
Cash: $ 10000
Letter of Credit: $45,400
Adopted by the City Council on October 24, 1995.
RR900 WC