HomeMy WebLinkAboutCity Council Resolution 1995-737RESOLUTION No. 95- 737
REDUCING REQUIRED FINANCIAL GUARANTEE
WESTBRANCH ADDITION FSA PLYMOUTH CREEK HEIGHTS ADDITION (92115)
WHEREAS, in accordance with the development contract dated October 11, 1993, U.S. Home
Corporation, developer of Plymouth Creek Heights Addition (92115), has agreed to instar wtain
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 C1TY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements ane reduced as follows:
Mf=w
Street Construction (except Dunkirk Lane)
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Sediment Pond Construction
Street Signs (5 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
fl1
Z_ • ] � 9 : �r • 1�M
$177,000
$-0-
1159000
-0-
81,000
-0-
81,000
-0-
15,000
80000
41865
4,865
1,589
10589
10000
10000
1495546
59000
79000
7,000
89347
8,347
76.961
4.296
$718,308 $40,097
That the Financial Guarantee required for the above items be reduced as detailed above from $246,177 to
$40,097 to reflect the completed work. Letter of Credit No. 93077 may be reduced accordingly.
RESOLUTION NO. 95-737
WiESTBRANCH ADDITION FBA PLYMOUTH CREEK HEIGHTS ADDITION (92115)
Pare Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Sectiai 8.1 of
the approved development enntraet be reduced as follows:
fl
blas ntenaaoe of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Claiming (See Grading Permit No. 55225
for required financial guuaetees)
Cash:
Latter of Credit No. FGAC 93054:
• . t 1 .
V 1 1\r . V •� 1.9
$19000 $ 1,000
$37,250 $37,250
FU.:THBR BE IT RESOLVED that the street construction and concrete curb and gutter is accepted for
continual maintenance as of December 5, 1995, subject to the One Year Guarantee by the Developer per
Maintenance Bond No. 4673277.
Adopted by the City Council on December 5, 1995.