HomeMy WebLinkAboutCity Council Resolution 1996-705•
RESOLUTION NO. 96 - 705
REDUCING REQUIRED FINANCIAL GUARANTEE
PLUM TREE 2ND ADDITION (96103)
WHEREAS, in accordance with the development contract dated August 22, 1996, Lundgren Brothers
Construction, Inc., developer of Plum Tree Zed Addition (96103), 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:
That the required financial guarantee for the above items be reduced as detailed above from $251,820 to
$84,016 to reflect the completed work. The required financial guarantee may be reduced accordingly.
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ORIGINAL
NEW
IT 3
AMOUNT
AL�USIT
Street Construction
$ 60,720
$ 12,144
Sanitary Sewer
20,100
-0-
Watermain
39,980
-0-
Storm Sewer
41,170
-0-
Boulevard and Drainage Swale Sod
30800
3,800
Mitigation Pond Construction
39000
31000
NURP Pond Construction
7,000
1,400
Street Signs (1 x 200)
200
200
Site Grading and Drainage Improvements
2239000
44,600
Park and Trail Improvements
81350
81350
Setting Iron Monuments
1,520
1,520
Design, Administration, Inspection, As-Builts
49.061
9.002
TOTAL
$ 475,901
$ 84,016
That the required financial guarantee for the above items be reduced as detailed above from $251,820 to
$84,016 to reflect the completed work. The required financial guarantee may be reduced accordingly.
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RESOLUTION NO. 96- 705
PLUNI TREE 2ND ADDITION (96103)
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:
,@O
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (see Grading Permit for Financial
Guarantee Requirements)
Cash:
Letter of Credit:
$-0- $-0-
$-0- $-0-
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction is
accepted for continual maintenance as of December 18, 1996 subject to the Two Year Guarantee by the
Developor per Maintenance Bond No. 2737626.
Adopted by the City Council on December 18, 1996.
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