HomeMy WebLinkAboutCity Council Resolution 1995-640•
i RESOLUTION N0.95- 640
REDUCING REQUIRED FINANCIAL GUARANTEE
HEATHER RUN 3RD ADDITION (94058)
WHEREAS, in accordance with the development contract dated July 12, 1994, Lundgren Bros.
Construction, Inc., developer of Heather Run 3rd Addition (94058), 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
compieted 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:
EM
ORIGINAL
AM2IIt1T
NEW
AM4VNT
Street Constriction
$55,800
-0-
Sanitary Sewer
28,000
-0-
Watermain
30,000
-0-
Storm Sewer
14,000
-0-
Boulevard and Drainage Swale Sod
3,000
2,000
Sediment Pond Construction
51000
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Impro-vements
45,000
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
21000
-0-
Design, Administration, Inspection, As Builts
TOTAL $205,184 $2,240
That the required ilnancial guarantee for the above items be reduced as detailed above from $18,099 to
$2,240 to reflect the completed work.
0
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RESOLU'T'ION NO. 95- 640
( HEATHER RUN 3RD ADDITION (94058)
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:
Maintenance of Erosion ,-ad Sediment
Control Plan Stroet Sweephig and Storm
Sewer Cleaning (See Grading Permit # 60484 For
Financial Guarantees)
Cash:
Letter of Credit:
s -a $-0-
$-0-
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is accepted for
continual maintenance as of October 24, 1995 subject to the Two Year Guarantee by the Developer per
Maintenance Bond No. 54072122.
Adopted by the City Council on October 24, 1995.