HomeMy WebLinkAboutCity Council Resolution 1996-028RESOLUTION NO.96. 28
REDUCING DEVELOPNEENT BOND
CAVAN MEADOWS ADDITION (93062)
WEMREAS, in accordance with the development contract dated February 2, 1994, Abingdon
Development Corporation, devcloper of Cavan Meadows A(Widon (93062), has agreed to install certain
improvements for said development; and
p►iiFRBAS, 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 development bond to reflect the completed
Work;
NOW, iKMWORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CTYY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
jm
ORIGINAL
AM
NI3R!
AMO
Street Construction
$24,055
$-0-
(a,cept City Pmj. No. 308)
Sanitary Sewer
20,060
-0-
Watermain
229110
-0-
Storm Sewer
13,580
-0-
Boulevard and Drainage Swale Sod
19400
600
Mitigation P)nd Construction
11400
280
Sediment Pond Construction
-0-
-0-
Street Signs (1 X 200)
200
-0-
Site Grading and Drainage Improvements
389425
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
600
-0
Design, Administ.-ation, Inspection, As-Builts
14,620
1S21�
TOTAL
$1369450
$986
That the letter of credit required for the above items be reduced as detailed above from $9,722 to $986 to
reflect the completed work. Letter of Credit No. 28417-C may be reduced accordingly.
RESOLUTICN NO. 96-28
'^AVA_N1 MEADOWS ADDITION (9306)
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of
the approved development contract be reduced as follows:
FW V-q_I
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
. 1
..v_ • AI[_ WR 0 1_.r_
$1,000 $1,000
$4,922 $2,461
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is accented for
ointinual maintenances as of January 9, 1996 Subject to the two year guarantee by the Developer per
Malitenance Bond No. 54068971
Adopted by the City Council on January 9, 1996