HomeMy WebLinkAboutCity Council Resolution 1995-741J
( RESOLUTION NO. 95 - 741
REDUCING REQUIRED FINANCIAL GUARANTEE
ROCKFORD GLEN ADDITION (94155)
WHEREAS, in accordance with the development contract dated August 8, 1995, Janco, Inc. and Rottlund
Company, Inc. and Arnold J. Wentland and Janet B. Wentland, developers of Rockford Glen Addition
(94155), 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, MINNESOTA; that the financial guarantee retluirements are reduced as follaws:
I�
ORIGINAL
NEW
AKQM
AMQITlir
( Street Construction
$2400000
51469300
(excluding City Proj. No's 502 & 503)
Sanitary Sewer
226,000
59,481
(excluding City Proj. No's 502 & 503)
Watermain
226,000
87.140
(excluding City Proj. No's 502 & 503)
Storm Sewer
133,750
133,750
Boulevard and Drainage Swale Sod
12,400
12,400
Mitigation Pond Construction
18,000
189000
NLTtP Pond Construction
14,000
21800
Street Signs (6 x 200)
1,200
1,200
Site Grading and Drainage Improvements
357,000
70,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
6,650
41620
Design, Administration, Inspection, As-Builts
148.200
MAW
TOTAL
$15383,200
$5990974
That the required financial guarantee for the above items ie reduced as detailed above from $1,383,200 to
$599,974 to reflect the completed work. In the :vent a bond is submitted, the required amount is
$599,974 x 1509 = $899,961.
\J
RESOLUTION No. 95. 741
ROCKFORD GLEN ADDITION (941SS)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section S.1 of the approved development contract be reduced as follows:
W.
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Financial Guarantee:
Adopted by the City Council on December 5, 1995.
,� • l.r : „ • lir
$1,000 $19000
$30,050 $30,050