HomeMy WebLinkAboutCity Council Resolution 1996-091RESOLUTION NO. 96- 91
REDUCING REQUIRED FINANCIAL GUARANTEE
AUTUMN EMJ S ADDITION (92060)
WHEREAS, in accordance with the development contract dated August 30, 1993, Lundgren Bros.
Construction, Inc., developer of Autumn Hills Addition (92060), 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 financial guarantee to reflect the completed
work;
NOW, THEREFORE, BB IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
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ORIGINAL
AM
NEW
AM2t7�
Street Construction
$118,000
$-0-
Sanitary Sewer
126,500
-0-
Watermain (excluding $32,000 for 18 inch
74,100
-0-
watermain along Vicksburg Ln.)
Storm Sewer
85,200
-0-
Boulevard and Drainage Swale Sod
50200
10000
Mitigation Pond Construction
40,000
1,000
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
226,000
-0-
Park and Trail Improvements
13,000
-0-
Setting Iron Monuments
4,000
-0-
Design, Administration, Inspection, As-Builts
83,088
240
TOTAL
$775,488
$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. 12027 shall remain in place at $2,240.
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RESOLUTION NO. 96- 91
.%UTUMN EMS (92064)
Pap Two
FURTHER BE rr RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
• ,� • 111 : �� • 1�M
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash: $ 1,000 $1,000
Letter of Credit No. 8513-U: $35,000 $7,000
Adopted by the City Council on February 7, 1996.
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