HomeMy WebLinkAboutCity Council Resolution 1996-498RESOLUTION NO. % - 498
REDUCING REQUIRED FINANCIAL GUARANTEE
SAVANNAH rD ADDITION (95021)
WHEREAS, in accordance with the development contract dated January 239 19969 Lundgren Brothers
Construction, Inc., developer of Savannah Y' Addition (95021), has agreed to install certain
improvements for said development; and
VMEREAS, the developer has completer a portion of the street, utility and site grading as rated below;
and
WHI REAS, the developer has requested a reduction of the required financial guarantee to reflect the
completed work;
NOW, THEREFORE, BE TT 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 $199,427 to
$62,003 to reflect the completed work. Letter of Credit Number 29249-A may be reduced accordingly.
A
0AENGWEVL#1NMM t1%ML*''0=1.DOC
ORIGINAL
NEW
1M
A�41I�iT
AM4I�
Street Construction
$ 639600
$ 28,500
Sanitary Sewer
619400
12,280
Wateanain
35,900
71180
Storm Sewer
12,200
2,440
Boulevard and Drainage Swale Sod
3,200
3,200
Mitigation Pond Construction
-0-
-0-
NURP Pond Conaruction
-0-
-0-
Street Signs (2 X 200)
400
400
Site Grading ..nd Drainage Improvements
-0-
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
11360
19360
Design, Administration, Inspection, As-Builts
21'367
6.643
TOTAL
$199,427
$ 62,003
That the required financial guarantee for the above items be reduced as detailed above from $199,427 to
$62,003 to reflect the completed work. Letter of Credit Number 29249-A may be reduced accordingly.
A
0AENGWEVL#1NMM t1%ML*''0=1.DOC
•
RESOLUTION No. 96- 498
SAVANNAH 2ND ADDITION (95021)
Page Two
FURTHER BE 1T RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
W9
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.
$ 10000 $ 1,000
$ 45,500 $ 22,750
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