HomeMy WebLinkAboutCity Council Resolution 1997-032•
RESOLUTION NO. - 32
REDUCING REQUIRED FINANCIAL GUARANTEE
THE PONDS AT BASS CREEK ADDITION (93106)
WHEREAS, in accordance with the development contract dated July 15, 1994, McHunter Co., LLC,
develop -.r of The Ponds at Bass Creek. Addition (93106), 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-
Inu
ORIGINAL
AMOM
NEW
At�T
Street Construction
$ 75,420
$15,090
Sa►dtary Sewer
50,290
-0-
Watermain
46,046
-0-
Storm Sewer
24,035
-0-
Boulevard and Drainage Swale Sod
5,000
29000
Mitigation Pond Construction
14,400
4,000
Sediment Pond Construction
3,880
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
49,800
-0-
Emergency Access
89100
4
Park and Trail Improvements
4
4
Wetland Buffer Delineation Posts
11600
320
Setting Iron Monuments
11875
4
Design, Administration, Inspection, As-Builts
112M
2.569
TOTAL
$ 3140548
$23,979
That the required financial guarantee for the items detailed above at $37,068 be reduced to $23,979 to
reflect the completed work. Letter Of Credit No. ).457-9408 A may be reduced accordingly.
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RESOLUTION NO. 97- 32
The Ponds at Bass Creek Addition (93106)
gage Twp.
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: $ 1,000 $11000
Letter of Credit No. 1457-9408 B: $149400 $10,500
Adopted by the City Council on January 8, 1997.
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