HomeMy WebLinkAboutCity Council Resolution 1996-377•
RESOLUTION NO. % - 377
REDUCING REQUIRED FINANCIAL GUARANTEE
HUNTERS BLUFF ADDITION (94145)
WHEREAS, in accordance with the development contract dated February 21, 1995, S.T. & M., Inc.,
developer of Hunters Bluff Addition (94145), 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:
I
ORIGINAL
AM43ZNT
NEW
AMQ.Li�T
Street Construction
$60,000
$20,000
Sanitary Sewer
50,000
0
Watermain
440000
0
Storm Sewer
37,000
0
Boulevard and Drainage Swale Sod
1,600
600
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
71500
0
Street Signs (1 x 200)
200
0
Site Grading and Drainage Improvements
270000
0
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
10500
0
Design, Administration, Inspection, As-Builts
27.456
247.
TOTAL
$2569256
$230072
That the required financiRl guarantee for the above items be reduced as detailed above from $63,168 to
$23,072 to reflect the completed work, Letter of Credit No. 14303 may be reduced acnordingly.
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RESOLUTION NO. 96- 377
3UNTEItS BLUFF ADDITION (94145)
Page Two
FURTIIER 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:
5i
Maintenance of Erosion and Sediment
Control Plan Stmt Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
FURTHER BE IT RESOLVED that the sanitary
accepted for continual maintenance as of July 10
Developer per Maintenance Bond No. 7764740.
kdopted by the City Council on July 10, 1996.
• i `
:Z• RN :�• �.r
$1,000 511000
$49200 $49200
sewer, watermain, and storm sewer construction is
1996, subject to the Two Year Guarantee by the
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