HomeMy WebLinkAboutCity Council Resolution 1995-774( RESOLUTION NO. 93- 774
REDUCING REQUIRED FINANCIAL GUARANTEE
COURTYARDS OF FRENCH CREEK ADDITION (93034)
WI�REAS, in accordance with the development contract dated May 11, 1993, The Courtyards of French
Creeks a Minnesota Partnership by Contractor Property Developers Company, its General Partner,
developer of Courtyards of French Creels (93034), has Weed to install certain improvements for said
development; and
WI3ERBAS, 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;
ITEM
ORIGINAL
AMSZ�3T
NEW
AMlZ�T
Street Construction
$74,312
$240360
Sanitary Sewer
48,810
-0-
Watermain
409923
-0-
Storm Sewer
30,600
-0-
Boulevard and Drainage Swale Sod
51000
800
Drainage Pond Construction
20000
400
Street Signs (1 x 200)
200
4
Site Grading and Drainage Improvements
29,775
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,875
-0-
Design, Administration, Inspection, As-Builts
28.019
3.067
TOTAL
$261,514
$28,627
That the required financial guarantee for the above items be reduced as detailed above from $31,427 to
$28,627 to reflect the completed work. Letter of Credit No. 930519-1A may be reduced accordingly.
RESOLUTION NO. 95- 774
COURTYARDS OF FRENCH CREEK ADDITION (93034)
Pate Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following it=& per
Section 8.1 of the approved development contract be reduced as follows:
• t I
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash: $10000 $11000
Letter of Credit No. 930519-1B: $119930 $29983
Adopted by the City Council on December 19, 1995