HomeMy WebLinkAboutCity Council Resolution 1996-660:]
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RESOLUTION NO. 96 - 660
REDUCING REQUIRED FINANCIAL GUARANTEE
SUGAR IIILLS 4T"ADDITION (95090)
WHEREAS, in accordance with the development contract dated May 16, 1996, Eugene R. Forbragd,
Darlene R. Forbragd, Martin H. Harstad and Janice E, Harstad, developers of Sugar Hills 0 Addition
(95090), 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 CITE' 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 $192,752 to
$27,104 to reflect the completed work. Letter of Credit No. 13368 may be reduced accordingly.
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ORIGINAL
NEW
EM
AMOT
AMOUNT
Street Construction
$ 63,000
$ 12,600
Sanitary Sewer
33,000
-0-
watennain
349000
-0-
Storm Sewer
t6+OOO
-0-
Boulevard and Drainage Swale Sod
4,400
41400
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
51000
2,500
Street Signs (1x200)
200
200
Site Grading and Drainage Improvements
15,000
31000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,500
11500
Design, Administration, Inspection, As-Builts
20,652
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TOTAL
$192,752
$ 27,104
That the required financial guarantee for the above items be reduced as detailed above from $192,752 to
$27,104 to reflect the completed work. Letter of Credit No. 13368 may be reduced accordingly.
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RESOLUTION No. 96-660
SUGAR HILLS 4TH ADDITION (95090)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 13369:
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$ 1,000 $ 1,000
$ 8,800 $ 8,800
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction is
accepted for continual maintenance as of December 4, 1996 subject to the Two Year Guarantee by the
Developer per Maintenance Bond No. 54085380.
Adopted by the City Council on December 4, 1996.
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