HomeMy WebLinkAboutCity Council Resolution 1996-307RESOLUTION NO. 96-307
DEDUCING REQUIRED F NANCIAL GUARANTEE
THE PONDS AT BASS CREEK ADDITION (93106)
WtIEREAS, in accordance with the d :velopment contract dated July 15, 1994, McHunter Co., LLC,
developer of The Ponds at Bass Creek Addition (93106), 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:
That the required financial guarantee for the items detailed above at $66,741 be reduced to $37,068 to
reflect the completed work. Letter Of Credit No. 1457-9408 A shall remain at that amount.
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ORIGINAL
AM
NEW
AMQT�iT
Street Constriction
$ 75,420
$25,000
Sanitary Sewer
50,290
-0-
Watermain
460046
-0-
Storni Sewer
24,035
-0-
Boulevard and Drainage Swale Sod
59000
39000
Mitigation Pond Construction
14,400
4,000
Sediment Pond Construction
3,880
776
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
49,800
-0-
Emergency Access
8,100
-0-
Park and Trail Improvements
-0-
-0-
Wetland Buffer Delineation Posts
1,600
320
Setting Iron Monuments
11875
-0-
Design, Administration, Inspection, As-Builts
13.702
LM
TOTAL
$ 314,548
$37,068
That the required financial guarantee for the items detailed above at $66,741 be reduced to $37,068 to
reflect the completed work. Letter Of Credit No. 1457-9408 A shall remain at that amount.
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RESOLUTION NO. 96-307
The Ponds at Bass Creek Addition (93106)
Page Two
FURTHER BE TT RESOLVED that the financial guarantee ro-yi1rements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
Ay
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 1457-9408 B:
FURTHER BE IT RESOLVED that the sanitary
accepted for continual maintenance as of June 5,
Developer per Maintenance Bond No. 700768935NI.
Adopted by the City Council on June 5, 1996.
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$ 19000 $1,000
$14,400 $102500
sewer, watermain, and storm sewer construction is
1996, subject to the Two Year Guarantee by the
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