HomeMy WebLinkAboutCity Council Resolution 1996-537RESOLUTION NO. % - 537
REDUCING REQUIRED FINANCIAL GUARANTEE
CHURCHILL FARMS 2ND ADDITION (91079)
VAMMU S, in accordance with the development contract taated September 30, 1991, Lundgren Bros.
Construction, Inc., developer of Churchill Fars 2id Addition (91079), 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
VAM REAS, 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, MDWESOTA; that the financial guarantee requirements are reduced as follows:
That the required financial guarantee for the above items be reduced as detailed above from $1,608 to $0
(zero) to reflect the completed work. Letter of Credit No. 911023-1A(3) may be reduced accordingly and
will be released by the Finance Department.
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ORIGINAL
NEW
lT
AMOUNT
AMOUNT
Street Construction
$ 98,000
$ -0-
Sanitary Sewer
36,000
-0-
Watermain
47,000
-0-
Storm Sewer
32,000
-0-
Boulevard and Drainage Swale Sod
61000
-0.
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (2 x 150)
300
-0-
Site Grading and Drainage Improvements
120,000
-0-
Park and Trail Improvements
-0-
-0-
Setthtg Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
40.716
TOTAL
$ 380,016
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $1,608 to $0
(zero) to reflect the completed work. Letter of Credit No. 911023-1A(3) may be reduced accordingly and
will be released by the Finance Department.
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RFSOLMON NO. 96.537
CHURCMLL FARMS 2`m ADDITION (91o79)
Page Two
RMTHER BE rr RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
IVVXv,I
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping and Storm
Sewer Cleaning
Cash:
Adopted by the City Council on October 2, 1996,
$ 10000 $-0-
$38,200
-0-
S38,200 $ -0-
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