HomeMy WebLinkAboutCity Council Resolution 1997-263•
RESOLUTION NO, W- 263
REDUCING REQUIRED FINANCIAL GUARANTEE
AUTUMN HILLS 2ND ADDITION (94W
WHEREAS, in accordance with the development contract dated January 31, 1994, Lw dgren Bros.
Cam, Inc., developer of Autumn Hills 2nd Addition (94005), has agreed to install cerin
improvenum a 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 COUNCEL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
IM
That
ORIGINAL
AMOUNT
NEW
AMOLRT
Strut Construction
$ 920000
S -G-
sanitary sewer
509000
-0-
Watermain
49,000
-0-
Storm Sewer
32,000
-0-
Boulevard and Drainage Swale Sod
Boulevard
4,800
-0-
Mitigation Pond Construction
4)-
-0-
Sediment Pond Construction
7,500
-0-
Street Signa (2 x 200)
400
Site Grading and Drainage Improvements
59,500
-0-
Park and Trail Improvements
40-
-0-
Setting Iron Monuments
21000
-0-
Design, Administration. inspection, As-Builts
H"
—Q --
TOTAL
$321,664
-0-
$4
That the required financial guarantee for the above items be reduced as detailed above from $1,344 to $0
(zero) to reflect the completed work. Letter of Credit No. 13207 may be reduced accordingly and will be
released by the Finance Department.
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•
RESOLUTION NO, 97- 263
AU'T'UMN SILLS 2ND ADDITION (94005)
PqP Two
FURTHER BE IT RESOLVED that the financial gua.antee requirements for the followLfg Items per
Section 8.1 of the approved development confess be reducod as follows:
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Crib:
Letter of Credit No. 13208:
v � lel �i � 1►�
$1.000 $-0-
$14,730 $4
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000
cash to $0 (zero) and Lew of Credit No. 13208 from $2,950 to $0 (zero). The finances guarantee may
be reduced accordingly and will be released by the Finance Department.
Adopted by the City Council on May 71 1997.
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