HomeMy WebLinkAboutCity Council Resolution 1996-659•
RESOLUTION NO. 96 - 659
REDUCING REQUIRED FINANCIAL GUARANTEE
ROCKFORD GLEN ADDITION (94155)
WHEREAS, in accordance with the development contract dated August 8, 1995, Janco, Inc. and Rottlund
Company, Inc. and Arnold J. Wentland and Janet B. Wentland, developers of Rockford Glen Addition
(94155), 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 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.
j
ORIGINAL
AMOUNT
NE3V
AMtINT
Street Construction
$240,000
$90,000
(excluding City Proj. No's 502 & 503)
Sanitary Sewer
226,000
45,200
(excluding City Proj. No's 502 & 503)
Watermain
226,000
459200
(excluding Cit Proj. No's 502 & 503)
Storm Sewer
133,750
26,750
Boulevard and Drainage Swale Sod
1214W
12,400
Mitigation Pond Construction
18,000
18,000
NURP Pond Construction
14,000
21800
Street Signs (6 x 200)
11200
11200
Site Grading and Drainage Improvements
357,000
35,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
6,650
41620
Design, Administration, Inspection, As-Builts
148.200
33,740
TOTAL
51,3830200
$3140910
That the required financial guarantee for the above items be reduced as detailed above from $599,974 to
$314,91.0 to reflect the completed work. In the event a bond is submitted, the required amount is
$314,910 x 150% L- $472,365.
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•
RESOLUTION NO. 96-659
ROCKFORD GLEN ADDITION (94155)
Page Two
FURTHER 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:
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Financial Guarantee:
Adopted by the City Council on December 4, 1996.
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a Ij►.Y
$11000 $1,000
$30,050 $30,050
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