HomeMy WebLinkAboutCity Council Resolution 1996-088•
RESOLUTION NO. 96- 88
REDUCING REQUIRED FINANCIAL GUARANTEE
HEATHER RUN 2ND ADDITION (94016)
WHEREAS, in accordance with the development contract dawd March 4, 1994, Lundgren Bros.
Construction, Inc., developer of Heather Run 2nd Addition (94016), 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 guarantee requirements are reduced as follows:
PTEM
ORIGINAL
AMOUN
NEW
AMOUNT
Street Construction
$127,000
$-0-
Sanitary Sewer
369000
-0-
Watermain
67,000
-0-
Storm Sewer
60,000
-0-
Boulevard and Drainage Swale Sod
81000
2,000
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
46,000
-0-
Street Signs (1 x 200)
200
-0-
Parking Lot for Park
61000
-0-
Site Grading and Drainage Improvements
105,000
-0-
Park and Trail Improvements
13,500
-0-
Setting Iron Monuments
31000
-0-
Design, Administration, Inspection, As-Builts
56.604
—20
TOTAL
$528,304
$2,240
That the required financial guarantee for the above items remain as detailed above at $2,240 to reflect the
completed work, Letter of Credit No. 28466-D shall also remain at $2,240.
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RESOLUTION NO. 96- 88
MATHER RUN 2ND ADDITION (94016)
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:
RPM,
Maintenance of Erosion and Sediment
Control plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 28466-B:
Adopted by the City Council on February 7, 1996.
ORIGINAL
AMOUNT AMOUNT
$1,000 $1,000
$20,000 $4,000
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