HomeMy WebLinkAboutCity Council Resolution 1997-141:7
RESOLUTION NO, 97 - 141
REDUCING REQUIRED FINANCIAL GUARANTEE
FERNBROOK WOODS 2ND ADDITION (94018)
WHEREAS, in accordance with tM development contract dated Mm" 24, 1995. Marvin 19. Ambnon
CaniMmItions developer of Fernbrook Woods 2nd Addition (9101809 has speed to install certain
impravesnents for said development; and
WHEStBAS, the developer bas completed a portion of the street, utility and site grading as noted below;
and
WHEREAS, the developer bas ngnsted a reduction of the development bond to reflect the completed
wodq
NOW. BFORB, BE IT BEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; do the financial guarantee requirements are reduced as follows:
EM
ORIGENAL
AMOUNT
NEW
AMOUNT
Street Construction (Does not include
$93,500
S -Q
City Pmj. No. 213)
Sanitary Sewer
6592M
-0-
watermain
300500
-0•
Storm Sewer,
66,200
-o-
Boulevard and Drainage Swale Sad
6,8300
11700
Midption Pond Conan tba
4
4
Sediment Pond Con w don
109000
4
Street Sign (3 x 200)
600
4
Site Grading and Drainage Improvements
165,000
6,730
Parti and Trail Improvements
4
4
Soft Iron Monuments
29000
4
Design, Administration, Inspection, As-Builts
55.14
1.014
TOTAL
$5149976
$99464
That the F1uncW Guarantee required for the above items be reduced as detailed above from $37,699 to
$9,464 to reflect the completed work. The required Financial Guarantee may be reduced accordingly. In
this instance a cash deposit was submitted.
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