HomeMy WebLinkAboutCity Council Resolution 1996-139RESOLUTION NO. % - !S9
REDUCING REQUIRED FINANCIAL GUARANTEE
NANTERRE ADDITION (94093)
WHEREAS, in accordance with the development contract dated October 13, 1995, Weston Corporation,
developer of Nanterre Addition (94093), 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:
Street Construction (excluding State
Aid Proj.)
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
NURP Pond Construction
Street Signs (6 x 200)
Site Grading and Drainage Improvements
(excluding State Aid Proj.)
Park and Trail Improvements
(excluding State Aid Proj.)
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
Wetland Mitigation and Performance
Monitoring
1111) :�-9
ORIGINAL
AMOUNT AMOLTtT1
$132,703
$ 61,838
200,629
4)-
140,876
-0-
76,230
15,246
9,000
9,000
4
4
20,000
10,000
1,200
1,200
384,250 7600
10,179
10,179
3,600
3,600
117,440
22,550
$1,109,507 $223,853
6.\ENO\OEVLMN73xwm31RESOL%Itw 9i.noc
RESOLUTION NO. 96. 139
:ANTERRE ADDMON (94093)
Pap Two
That the required financial guarantee for the above items be reduced as detailed above from $300,360 to
$223,853 to reflect the completed work. The required financial guarantee may be reduced accordingly.
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 Erasion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See Grading Permit
No. 67717 for Financial Guarantee Requirements)
Cash:
Letter of Credit:
•• i
IF,xv)(firla : „ • �.rr
$-0- $4
$-0- 5 -0 -
FURTHER BE IT RESOLVED that the sanitary sewer and watermain construction is accepted for
ontitwal maintenance as of March 6, 1996 subject to the Two Year Guarantee by the Developer per
Maintenance Bond No. 137 879500.
Adopted by the City Council on March 6, 1996.
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