HomeMy WebLinkAboutCity Council Resolution 1997-261C7
RE3OLUTION NO. 97. 261
REDUCING REQUIRED FINANCIAL GUARANTEE
WATMR RUN AMMON M05)
WHEREAS, in accords= with the development contract dated March 22, 1993, Lundgren Bros.
Construction, Inc., developer of Heather Run Addition (92033), has agreed to instal 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 redvretion of the required financial guarantee to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL Or THE CITY OF
PLYMOUTH. MINNESOTA; that the financial guarantee requirements are reduced as follows:
EM
ORIGINAL
AMOUNTI�T
NEW
Street Construction
$1829000
$-0-
County Road 24 Lane Improvements
29,300
4
Sanitary Sewer
1441,700
4
Watermain
72,100
4
Storm Sewer
67,800
-0-
Boulevard and Drainage Swale Sod
79200
-0-
Mitigation Pond Construction
25,000
4
Street Signs (4 x 200)
800
4
Site Grading and Drainage Improvements
192.500
4
Park and Trail Improven.ents
15,200
4
Setting Iron Monuments
31000
-0-
Design, Administration, Inspectior, As-Bullts
_9$,942
-A
TOTAL
$8309693
$-0-
That the required financial guarantee for the above Items be reduced as detailed above from $8,803 to $0
(aro) to reflect the completed work, Letter of Credit No. 28133-C may be reduced accordingly and will
be released by the Finance Department.
ucrr.NN���r,�moevwrrteu��uo»�I�o�.U�oNnRen� ane
•
RMLUTION NO. 97- 261
MATE ER RUN ADDITION (9MS)
Page Two
FURTHER BE IT RESOLVED that the financial guuamee requirements for the following items per
Section 8.1 of the approved development contract be refted as follows:
T
Mairanan a of Erosion and Sediment
Control Plan. Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 28153-A:
Adopted by the City Council on May 7, 1997.
W.Ikj LIIIA10 I 1.I
$16000 $19000
$279650 $5,530
��cwr.a�n�i�a�oevu�Msm�u��mo�>rowo��oi,aa
•