HomeMy WebLinkAboutCity Council Resolution 1997-267RESOLUTION NO, 97 - 267
REDUCING REQUIRED FINANCIAL GUARANTEE
HOLLY CPJ= 5" r ADDITION (96005)
WHEREAS, in accordance with the development contract dated April 1, 1997 Craig Scberber and
Associates, developer of Holly Creek 5' Addition (96005), bas agreed to install certain impruverrients for
said development; and
WHEREAS, the de%eloper has completed a portion of the stream, utility and site grading as noted below;
and
WHEREAS, the developer has requested it 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 regWrem en s are refined as follows:
That the required tinancid guarantee for the above items be reduced as detailed above from $308,677 to
$348,111 to reflect the completed work. The financial guarantee may be re ;aced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AM4I1�1T
Street Construction
$ 112,828
112,828
Sanitary Sewer
54,656
10,931
Watermain
76,811
76,811
Storm Sewer
53,471
53,471
Boulevard and Drainage Swale Sod
71800
7 .AO
Landscaping
12,500
129500
wetland Buffer Momtmenta (42 x 20)
840
840
NURP Pond Construction
3,723
3,723
Street Signs (4 x 200)
800
800
Mitigation Pond
21800
2.800
Site Grading and Drainage Improvements
124,547
24,909
Park and Trail improvements
-0-
40 -
Setting Iron Monuments
3.400
3,400
Design, Administration, Inspection, As-BuHts
54.301
37.298
TOTAL
$ Mt677
s 348,111
That the required tinancid guarantee for the above items be reduced as detailed above from $308,677 to
$348,111 to reflect the completed work. The financial guarantee may be re ;aced accordingly.
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RESOLUTION NO, 97. 267
JOLLY CREEK 10" ADDITION (%M)
Pale Two
FURTHER BE IT RESOLVED that the fman W guarantee requirements for the following items per
Section B.I of the approved development contract be reduced as follows:
YE�
Maintenance of Erosion and Sediment
Control Plan. Street Sweeping, and Storm
Sewer Clcuft
Cash:
Letter of Credit No. 623984:
Adopted by the City Council on May 71 1997.
$1.000 $19000
$ 27.500 $ 27,500
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