HomeMy WebLinkAboutCity Council Resolution 1997-012RESOLUTION NO. 97 -12
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REDUCING REQUIRED FINANCIAL GUARANTEE
HEATHER RUN 4TH ADDITION (95001)
WHEREAS, in accordance with the develorment contract dated February 21, 1995, Lundgren Bros.
Construction, Inc., developer of Heather Run 4th Addition (95001), 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 reduces: as follows:
1TF,M
ORIGINAL
AMOUNT
NEW
AMOAM
Street Construction
$75,800
$-0-
Sanitary Sewer
61,600
-0-
Watermain
42,500
-0-
Storm Sewer
21,100
-0-
Boulevard and Drainage Swale Sod
5,600
1,500
Mitigation Pond Construction
4-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
91600
4
Setting Iron Monuments
21800
.0 -
Design, Administration, Inspection, As-Builts
26.328
1$4
TOTAL
$245,728
$1,664
That the required financial guarantee for the above items be reduced as detailed above from $20,339 to
,680 to reflect the completed work. Letter of Credit No. 28912-A may be reduced accordingly.
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RESOLUTION NO. .12
HEATHER RUN 4TH ADDITION (95001)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract he reduced as follows:
VW k,
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on January 8, 1997.
$1,000 $1,0(,10
$-0- $-0-
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