HomeMy WebLinkAboutCity Council Resolution 1996-451r:
RESOLUTION NO. %-451
REDUCING FINANCIAL GUARANTEE
PLYMOUTH OAKS ADDITION (93078)
WHEREAS, in accordance with the development contract dated October 25, 1993, Dahlstrom Companies,
Inc., D.W. Peterson Homes, Inc. and Tony Eiden Company, developer of Plymouth Oaks Addition
(93078), 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, BE 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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Street Construction
$227,000
$ -0-
Sanitary Sewer
130,000
-0-
Watermain
81,000
-0-
Storm Sewer
44ffl()
-0-
Boulevard and Drainage Swale Sod
80000
-0-
Mitigation Pond Construction
15,750
-0-
Sediment Pond Construction
51250
-0-
Street Signs (4 x 200)
800
-0-
Site Grading and Drainage Improvements
84,000
-0-
Park and Trail Improvements
-0-
.0 -
Setting Iron Monuments
41000
-0-
Design, Administration, Inspection, As-Builts
71.976
;¢
TOTAL
$671,776
$-0.
That the financial guarantee required for the above items be reduced as detailed above from $8,064 to $0
to reflect the completed work. Letter of Credit No. 28214-C may be reduced accordingly and will be
released by the Viiance Department.
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RESOLUTION N0.96- 451
PLYMOUTH OAKS ADDITION (93078)
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:
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Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See grading Permit No. 56606
for Required Financial Guarantees)
Cash:
Letter of Credit: 28214-A,
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$1,000 $1,000
$29,000 540 -
FURTHER BE IT RESOLVED that the financial guarantee for the above items remain at $1,000 cash
with Letter of Credit No. 28214-A being reduced from $14,500 to $0 and will be released by the Finance
Department.
Adopted by the City Council on August 21, 1996
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