HomeMy WebLinkAboutCity Council Resolution 1996-025RESOLUTION NO. 96 - 25
REDUCING REQUIRED FINANCIAL GUARANTEE
PLYMOUTH PONDS BUSINESS PARK ADDITION (95005)
WHEREAS, in accordance with the development contract dated June 20, 1995, Plymouth Ponds Limited
Liability Company, developer of Plymouth Ponds Business Park Addition (95005), 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 We financial guarantee requirements are reduced as follows:
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That the required financial guarantee for the above items be reduced as detailed above from $230,912 to
598,110 to reflect the completed work. Letter of Credit No. 1615 may be reduced accordingly.
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ORIGINAL
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Street Construction
$37,775
$29,000
Co. Rd. 24 Right In/Right Out
21,000
21,000
Sanitary Sewer
51,717
10,343
Watermain
33,620
61724
Storm Sewer
9,644
11929
Boulevard and Drainage Swale Sod
900
900
Drainage Pond Construction
71975
10595
Mitigation Pond Construction
81500
8,500
Sediment Pond Construction
-0-
-0-
Street Signs (1 x 200)
200
200
Site Grading and Drainage Improvements
34,290
6,858
Park and Trail Improvements
-t)-
-0-
Setting Iron Monuments
550
550
Design, Administration, Inspection, As-Builts
24.741
10,512
TOTAL
$230,912
$980110
That the required financial guarantee for the above items be reduced as detailed above from $230,912 to
598,110 to reflect the completed work. Letter of Credit No. 1615 may be reduced accordingly.
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RESOLUTION NO, 96- 2s
PLYMOUTH PONDS BUSINESS PARK ADDITION (95005)
Page Two
FURTHER BE TT 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
Cash:
Letter of Credit:
Adopted by the City Council on January 9, 1996.
$10000 $1,000
$45,500 $45,500
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