HomeMy WebLinkAboutCity Council Resolution 1996-0870
RESOLUTION NO. 96- 87
REDUCING REQUIRED FINANCIAL GUARANTEE
HEATHER RUN ADDITION (92035)
WHEREAS, in accordance with the development contract dated March 22, 1993, Lundgren Bros.
Construction, Inc., developer of Heather Run Addition (92035), 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 RE.ROLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows;
jTEI�
ORIGINAL
AMOUNT
NEW
AMOUNT
Street Construction
$182,000
$-0-
County Road 24 Lane Improvements
29,300
51860
Sanitary Sewer
144,700
-0-
Watermain
72,100
.0 -
Storm Sewer
67,800
-0-
Boulevard and Drainage Swale Sod
71200
20000
Mitigation Pond Construction
251000
-0-
Street Signs (4 x 200)
800
-0-
Site Grading and Drain:tge Iniproveax lit..
192,500
-0-
Park and 'Trail Improvements
15,200
-0-
Setting Iron Monuments
5,000
-0-
Design, Administration, Inspectir r,, rbc-Builts
88.992
.242
TOTAL
$830,592
$8,803
That the financial guarantee requirtJ ft, the items detailed above remain at $8,803 to reflect the
completed work. Letter of Credit No. 281.3-C shall remain accordingly at $8,803.
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RESOLUTION No. 96.87
HEATHER RUN ADDITION (92035)
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
Cash:
Letter of Credit:
Adopted by the City Council on February 7, 1996.
I,, c
MIJ 01 Inv
$ 1,000 $ 1,000
$27,650 $5,530
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