HomeMy WebLinkAboutCity Council Resolution 1996-452•
RESOLUTION NO. 96 - 452
REDUCING REQUIRED FINANCIAL GUARANTEE
SUNSET VALLEY HOMES SECOND ADDITION (91051)
WHEREAS, in accordance with the development contract dated August 22, 1991, Sunset Valley Homes,
Inc., developer of Sunset Valley Homes Second Addition (91051), 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, U NNESOTA; that the financial guarantee requirements are reduced as follows;
That the required financial guarantee for the above items be reduced as detailed above from $26,897 to
$4,778 to reflect the completed work,
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ORIGINAL
NEW
ITEM
AHO
ANUOUNT
Street Construction
$ 21,330
$4,266
Bituminous Curb - Sunset Trail
2,145
-0-
Sanitary Sewer
14,010
-0.
Watermain
13,345
-0-
Storm Sewer
3,600
-0-
Boulevard and Drainage Swale Sod
2,Wn
-0-
Pond or Ditch Construction
-0-
-0-
Street Signs (1 x 150)
1.50
-0-
Site Grading and Drainage Improvements
409000
-0-
Park and Trail Improvements
-0-
-0-
Design, Administration, Inspection, As-Builts
-ILM
512
TOTAL
$108,170
$4,778
That the required financial guarantee for the above items be reduced as detailed above from $26,897 to
$4,778 to reflect the completed work,
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RESOLUTION N0.9& 452
SUNSET VALLEY HOMES SECOND ADDITION (91451)
Pepe 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:
m
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. UMP0323881:
Adopted by the City Council on August 21, 1996.
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511000 $1,000
$19,000 $5,000
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