HomeMy WebLinkAboutCity Council Resolution 1995-776•
RESOLUTION NO. 95- 776
REDUCING REQUIRED FINANCIAL GUARANTEE
SAVANNAH ADDITION (93112)
WABREAS, in accordance with the development contract dated June 22, 1994, Lundgren Bros.
Constpxction, Inc., developer of Savannah Addition (93112), has agreed to install certain improvements
for sod development; and
WHSRBAS, 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
PLYMOU'111, MINNESOTA; that the financial guarantee requirements are reduced as follows:
ITS
ORIGINAL
AMQV�TT
NEW
AMQUILT
( Street Construction
(Except City Proj. No's 213 & 907)
599,660
S G -
Sanitary Sewer
(Except City Proj. No's 213 & 907)
101,420
-0-
Watermain
(Except City Proj. No's 213 & 907)
80,410
-0-
Storm Sewer
42,570
-0-
Boulevard mid Drainage Swale Sod
7,000
29000
Mitigation Pond Construction
91500
-0-
SedL-neut Pond Construction (Including wall)
14,500
2,900
Street Signs (3 x 200)
600
-0-
Site Gted!tag and Drainage Improvements
(Except Cit; Proj, No's 213 & 907)
164,000
-0-
Park and Trail Improvements
-0-
.0 -
Setting Iron Monuments
2,900
-0-
Design, Administration, Inspection, As-Builts
62.707
-M
TOTAL
$585,267
$5,488
That the required financial guarantee for the above items be reduced its detailed above from $24,802 to
$5,488 to reflect the completed work. Letter of Credit No. 13279 may be reduced accordingly.
BR911 12,000
RMOLUTION No. 9S- 776
�. jAVANNAH ADDITION (93112)
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:
Riifl
Maintenance of Erosion and Sodiment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
u• nM : � a 1%1
$100 $10000
$45,500 $22,750
FURTHER BE IS RESOLVED that the street construction and concrete curb and gutter is accepted for
continual maintenance as of December 19, 1995 subject to the One Year Guarantee by the Developer per
the required Maintenance Bond.
Adopted by the City Council on December 19, 1995
t
BR93112.DOC