HomeMy WebLinkAboutCity Council Resolution 1995-738•
RESOLUTION NO. 95- 738
REDUCING FINANCIAL GUARANTEE
PLYMOUTH OARS ADDITION (93078)
WHEREAS, in accordance with the development contract dated October 25, 1993, Dahlstrom Companies,
Inc., D.W. Peterson Homes, Inc. and Tony Eiden Company, developer of Plymouth Oaks Addition
(93078), 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:
( Street Construction
Sanitary Sewer
Watemain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Sediment Pond Construction
Street Signs (4 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
1
:.v Lois) 9 1 : u J111
$227,000
$ -0-
130,000
-0-
81,000
-0-
44,000
•0-
8,000
2,000
15,750
31150
5,250
11050
coo
-0-
84.000
-0-
-0-
-0-
4,000
10000
.xU76
__4
$671,776 $8,064
That the financial guarantee required for the above items be reduced as det tiled above from $61,152 to
$8,064 to reflect the completed work.
e
RESOLUTION NO. 95- 738
PLYMOUTH OAKS ADDITION (93078)
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 (See grading Permit No. 56606
for Required Financial Guarantees)
Cash:
Letter of Credit: 28214-A,
•
:v• JO :va I.r.
$.X0 51,000
$29,000 $149500
FURTHER 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 Two Year Guarantee by the Developer per
Maintenance Bond No. 54067683.
Adopted by the City Council or December 5, 1995