HomeMy WebLinkAboutCity Council Resolution 1995-699( RESOLUTION NO. 95 - 699
REDUCING REQUIRED FINANCIAL GUARANTEE
NANTERRE ADDITION (94093)
WHEREAS, in accordance with the development contract dated October 13, 1995, Weston Corporation,
developer of Nanterre Addition (94093), 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, MIIYNFSOTA; that the financial guarantee requirements are reduced as follows:
1IZ9
ORIGINAL
NEW
AMi2�
AMA�T
Street Construction (excluding State
Aid Proj.)
$132,703
$132,703
Sanitary Sewer
7.009629
409126
Watermain
140,876
449839
Storm Sewer
76,230
53,726
Boulevard and Drainage Swale Sod
91000
91000
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
209000
20,000
Street Signs (6 x 200)
1,200
1,200
Site Grading and Drainage Improvements
(excluding State Aid Proj.)
3849250
76,850
Park and 'Trail Improvements
(excluding State Aid Proj.)
10,179
10,179
Setting Iron Monuments
3,600
31600
Design, Administration, Inspection, As-Builts
117,440
47,067
Wetland Mitigation and Performance
Monitoring
1,444
13.400
TOTAL
$1,109,507
$452,690
119M.00c
RESOLUTION NO. 95-699
( MANTERRE ADDITION MM)
Page Two
That the required financial guarantee for the above items be reduced as detailed above from $1,109,579 to
$405,623 to reflect the completed work. The required financial guarantee may be reduced accordingly.
FURTHER BE rr RESOLVED that the financial guarantee regakem," for the following items per
Section 8.1 of the approved development contact be reduced as follows:
W„
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See Grading Permit
No. 67717 for Financial Guarantee Requirements)
Cash:
Letter of Credit:
Adopted by the City Council on November 14, 1995.
cl1
$-0- $-0-
$-0- 5-0-
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