HomeMy WebLinkAboutCity Council Resolution 1997-034RESOLUTION NO. - 34
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REDUCING REQUIRED FINANCIAL GUARANTEE
THE PONDS AT BASS CREEK PD ADDITION (96091)
WHEREAS, in accordance with the development contract dated August 8, 1996, McHunter Co., LLC,
developer of The Ponds at Bass Creek 3td Addition (96091), 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 red -iced as follows:
That the required flnancial guarantee for the above items be reduced as detailed above from $284,175 to
$106.988 to reflect the completed work. Letter of Credit No. 6076 -896 -DI may be reduced accordingly,
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ORIGINAL
NEW
ITEM
�QtIIYT
ADi�ZIdT
Street Construction
$ 60,910
$ 50,000
Sanitary Sewer
419860
8,380
Watermain
41,600
8,320
Storm Sewer
12,28(1
2,460
Boulevard and Drainage Swale Sod
4,600
4,600
Mitigation Pond Construction
600
600
Sediment Pond Construction
-0-
-0-
Street Signs (2 X 200)
Site Grading and Drainage Improvements
88,133
17,630
Park and Trail Improvements
1,935
1,935
Setting Iron Monuments
11800
19600
Design, Administration, Inspection, As-Builts
30A47
11,463
TOTAL
$ 284j175
$106j968
That the required flnancial guarantee for the above items be reduced as detailed above from $284,175 to
$106.988 to reflect the completed work. Letter of Credit No. 6076 -896 -DI may be reduced accordingly,
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RESOLUTION NO, 97- 34
ME PONDS AT BASS CREEK 3"D ADDITION (96091)
Page Two
FURTHER BE Tf 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. 6076-896-E:
Adopted by the City Council on January 8, 1997.
W.16 r NV I air
$ 1,000 $1,000
$17,000 $17,000
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