HomeMy WebLinkAboutCity Council Resolution 1996-633•
RESOLUTION NO. % - 633
REDUCING REQUIRED FINANCIAL GUARANTEE
NIISSION VIEW .ADDITION (94158)
WHEREAS, in accordance with the development contract dated May 1, 1996, Baton Corporation,
developer of Mission View Addition (94158), 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 tte
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 $676,256 to
$223,664 to reflect the completed work. The required Financial Guarantee may be reduced accordingly.
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ORIGINAL
NEW
1T
AMO
AMOUNT
Street Construction
$77,000
$77,000
Sanitary Sewer
93,000
18,600
Watermain
88,000
170600
Storm Sewer
42,000
8,400
Boulevard and Drainage Swale Sod
51200
5,200
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
21,000
41200
Street Signs (3 x 200)
600
200
Site Grading and Drainage Improvements
260,000
52,000
Park and Trail Improvements
151000
151000
Setting Iron Monuments
11000
10500
Design, Administration, Inspection, As-Builts
72.456
23,964
TOTAL
$ 676,256
$ 223,664
That the required financial guarantee for the above items be reduced as detailed above from $676,256 to
$223,664 to reflect the completed work. The required Financial Guarantee may be reduced accordingly.
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•
RESOLUTION N0.96. 633
MLSSION VIEW ADDITION (94158)
Page Two
FURTHER BB rr RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
M In
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping and Storm
Sewer Cleaning
Cash:
Financial Guarantee:
Adopted by the City Coune;i on November 20, 1996.
$ 10000 $1,000
$15,950 $ 15,950
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