HomeMy WebLinkAboutCity Council Resolution 1996-571RESOLUTION NO, 96-571
REDUCING REQUIRED FINANCIAL GUARANTEE
PLUM TREE ADDITION (94162)
WHEREAS, in accordance with the development contract dated April 18, 1996, Lundgren Brothers
Construction, Inc., developer of Plum True Addition (94162), 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 fmancial 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 8762,061 to
$94,575 to reflect the complet%A work. Letter of Credit No. 15794 may be reduced accordingly.
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ORIGINAL
NEW
( EM
AMOUNT
ALL4
Street Construction
$1579000
$319400
Sanitary Sewer
130,000
-a
Watermain
119,000
-0-
Storm Sewer
63,E
-0-
Boulevard and Drainage Swale Sod
71600
7,600
Mitigation Pond Construction
41000
49000
NURP Pond Construction
7,000
-0-
Street Signs (3 x 200)
600
600
Site Grading and Drainage Improvements
160,000
32,000
Park and Trail Improvements
29,212
51842
Setting Iron Monuments
3,000
3,000
Design, Administration, Inspection, As-Builts
81.649
10.133
TOTAL
$ 762,061
$ 94,575
That the required financial guarantee for the above items be reduced as detailed above from 8762,061 to
$94,575 to reflect the complet%A work. Letter of Credit No. 15794 may be reduced accordingly.
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