HomeMy WebLinkAboutCity Council Resolution 1995-773U
RESOLUTION NO. 95 - 773
REDUCING REQUIRED FINANCIAL GUARANTEE
FRENCH RIDGE ADDITION (94159)
WHEREAS, in accordance with the development contract dated July 27, 1995, Janco, Inc., developer of
French Ridge Addition (94159), 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
WEDMEAS, the developer has requested a reduction of the required financial guarantee to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THP. CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
That the required financial guarantee for the above items be reduced as detailed above from $1,034,414 to
$310,090 to reflect the completed work.
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ORIGINAL
NEW
IIW
AM41UNT
AMOUNT
Street Construction
$235,160
$141,096
Sanitary Sewer
152,000
30,400
Watermain
1850500
220260
Storm Sewer
75,490
15,298
Boulevard and Drainage Swale Sod
139600
13,600
Mitigation Pond Construction
81378
8,378
(5 yrs. from date of pond completion)
Sediment Pond Construction
10,000
100000
Street Signs (3 x 200)
600
600
Site Grading and Drainage Improvements
2299622
23,000
Park and Trail Improvements
8,734
8,734
Setting Iron Monuments
31500
31500
Design, Administration, Inspection, As-Builts
110.830
33.224
TOTAL
51,0341414
$310,090
That the required financial guarantee for the above items be reduced as detailed above from $1,034,414 to
$310,090 to reflect the completed work.
r MIKUK
n
P9
RESOLUTION N0.95. 773
1+RENCH RIDGE ADDI'T'ION (94159)
Pap Two
FURTHER BE IT RESOLVED than the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
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Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Financial Guarantee:
Adopted by the City Council on December 19, 1995.
u � 1► �v � 1.Y
$1,000 $1,000
$419000 $41,000
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