HomeMy WebLinkAboutCity Council Resolution 1996-497RESOLUTION NO. % - 497
REDUCING REQUIRED FINANCIAL GUARANTEE
FRENCH RIDGE PARK ADDITION (94159)
WHEREAS, in accordance with the development contract dated July 27, 19959 JANCO, Inc., developer
of French Ridge Park Addition (94159), has agreed to instal! certain improvements for said development;
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WHEREAS, the developer has completed a portion of the street, utility and site grading as noted below;
and
WHBRBAS, 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 above items be reduced as detailed above from $233,977 to
$88,005 to reflect the completed work. Letter of Credit No. 122195 may be reduced accordingly.
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ORIGINAL
NEW
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Street Construction
$2350160
$47,032
Sanitary Sewer
152,000
-0-
Watermain
1859500
-0-
Storm Sewer
76,490
-0-
Boulevard and Drainage Swale Sod
139600
91066
Mitigation Pond Construction
81378
80378
(5 yrs, from date of pond completion)
Sediment Pond Construction
10,000
-0-
Street Signs (3 x 200)
600
600
Site Grading and Drainage Improvements
229,622
10,000
Park and Trail Improvements
89734
-0-
Setting Iron Monuments
3,500
3,500
Design, Administration, Inspection, As-Builts
110.830
9.429
TOTAL
519034,414
$88,005
That the required financial guarantee for the above items be reduced as detailed above from $233,977 to
$88,005 to reflect the completed work. Letter of Credit No. 122195 may be reduced accordingly.
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RESOLUTION NO. 9& 497
FRENCH RIDGE PARK ADDITION (94159)
Pap Two
FURTIMR 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
Cash:
Financial Guarantee:
Adopted by the City Council on September 18, 1996.
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$1,000 $L000
$41,000 $419000
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