HomeMy WebLinkAboutCity Council Resolution 1996-086RESOLUTION NO. % - 86
REDUCING REQUIRED F NANCIAL GUARANTEE
WALNUT GROVE POND ADDITION (94100)
WHEREAS, in accordance with the development contract dated May 31, 1995, Three Star Trucking,
developer of Walnut Grove Pond Addition (94100), 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 the financial guarrntee requirements are reduced as follows:
ITEM
ORIGINAL.
AMOUNT
NEW
AMOUN
Street Constructi)n
$46,000
$9,200
Sanitary Sewer
48,000
9,600
Watermain
39,800
1,592
Storm Sewer
23,000
4,600
Boulevard and Drainage Swale Sod
4,400
4,400
Mitigation Pond Construction
•0-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (2 x 200)
400
400
Site Grading and Drainage Improvements
70,500
14,100
Park and Trail Improvements
-u-
-0-
Setting Iron Monuments
1,290
1,200
D:sign, Administration, Inspection, As-Builts
27.226
5 U
TOTAL
$261,296
$50,503
That the required financial gua-zntee for the above items be reduced as detailed above from $235,635 to
$50,503 to reflect the completed work. The required financial guarantee may be reduced accordingly.
G:\ENMI)L'VLMtCM9410"ESOLIBR-94100. WC
•
RESOLUTION NO. 96- 86
VALNUT GROVE POND ADDITION (94100)
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:
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See grading permit for
financial guarantee requirements)
Cash:
Letter of Credit:
kdopted by the City Council on February 7, 1996.
$-0- $-0-
$-0- $-0-
a uir�mnxvi w�i+mwmxinoi.vie.wix,ixIr
t]