HomeMy WebLinkAboutCity Council Resolution 1997-264RESOLUTION N0.97- 264
JMG MLIU TSD FWANCIAL GUARANTEE
HEATHER RUN MD ADDITION 094010
WHEREAS, in &=or&= with the development contract dated March 4, 1994, Lundgren Bros.
Co=eucdon, Inc., developer of Heather Rum 2nd Addition (94016)9 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, TIi MMRE, BE IT HEREBY ABSOLVED BY TILE CITY COUNCIL OF THE CITY OF
PLYMOUTH. MINNESOTA; that the financial guarantee requirements are reduced as follows:
1
ORIGINAL
AMOUNT
NEW
ANK RW
Strew Construction
$1279000
$4 -
Sanitary Sewer
36,000
4-
Watermain
67,000
-0-
Stom Sewer
60,000
4 -
Boulevard and Drainage Swale Sod
89000
600
Mitigation Pond Construction
-Q•
4
Sediment Pond Construction
46,000
4
Street Signs (1 x 200)
200
4
Parking Lot for Paris
6,000
4
Site Grading and Drainage Improvements
105,000
4
Put and Trail Improvements
13,500
4
Setting Iron Monuments
39000
4
Design, Administration, Inspection. As-Builts
56.604
U
TOTAL
$5289304
$672
That the required financial guarantee for the above items be reduced as detailed above from $2,240 to
$672 to reflect the completed work. Letter of Credit No. 28466-D may be reduced accordingly.
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RE901AMON N0.97- 264
MATE= RUN= ADDITION (94010
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FURTHER BE R RESOLVED that the financial Swrame requh mm for the following items per
Section 8.1 of the approved development codnct be refias Mow:
Maintenance of Erosion and Sediment
Control Plan. Street Svweefts and Storm
Sewer Claniog
Cash:
Letter of Credit No. 28166-B:
81000 $1.000
$209000 S -0 -
FURTHER BE IT RESOLVED that the financial guarantee for the above item9 remain at $1,000 ash with
the financial Suarantee being reduced Brom $4.000 to $0 (aero). Letter of Credit No. 28466-8 may be
reduced acceedingly and will be released by the Finance Department.
Adopted by the City Council on May 79 1997.
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