HomeMy WebLinkAboutCity Council Resolution 1995-696RESOLUTION NO.95- 696
REDUCING REQUIRED FINANCIAL GUARANTEE
AUTUMN TMJ ADDITION (92060)
WHEREAS, in accordance with the development contract dated August 30, 1993, Lundgren Bros.
Conbtruction, Inc., developer of Autumn Hills Addition (92060), 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 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:
ITT
ORIGINAL
AM4i3T
NEW
AMQTILIT
Street Construction
$118,000
$.0 -
Sanitary Sewer
126,500
4
Watermain (excluding $32,000 for 18 inch
74,100
-0-
watermain along Vicksburg Ln.)
Storm Sewer
85,200
-0-
Boulevard and Drainage Swale Sod
5,200
11000
Mitigation Pond Construction
40,000
1,000
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
226,000
.0 -
Park and Trail Improvements
13,000
10 -
Setting Iron Monuments
41000
.0 -
Design, Administration, Inspection, As-Builts
83.088
—10
TOTAL
$775,488
$2,240
That the required financial guarantee for the above items be reduced as detailed above from $17,920 to
$2,240 to reflect the completed work. Letter of Credit No. 12027 may be reduced accordingly.
0
RESOLUTION NO. 95-696
1UTUMN HILT (92060)
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 and Sediment
Control plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 8513-T:
Adopted by the City Council on November 14, 1995.
$1,000 $10000
$35,000 $17,500