HomeMy WebLinkAboutCity Council Resolution 1997-454•
RESOLUTION NO. 97 - 454
REDUCING REQUIRED FINANCIAL, GUARANTEE
FORSTER PRESERVE ADDITION (92090)
WHEREAS, in accordance with the development contract dated March 22, 1"3, JANCO, Inc., developer of
Forster Preserve Addition (92090), 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 development bond to reflect the completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
EM
ORIGINAL
AMOUNT
NEW
AST
Street Construction
$50,514
540 -
Sanitary Sewer
43,515
4)-
Watermain I
33,910
-0-
Storm Sewer
26,323
-0-
Boulevard and Drainage Swale Sod
4,400
-0-
Drainage Pond Construction
662
-0-
Mitigation Pond Construction
2,650
.0 -
Street Signs (2 x 200)
400
4 -
Site Grading and Drainage Improvements
129,088
-0-
Park and Trail Improvements
-0-
-)-
Setting Iron Monuments
2,310
-0-
Dosign, Administration, Inspection, As-Builts
35.252
Q
TOTAL
$329,024
S41 -
That the letter of credit required for the above items be reduced as detailed above flom 51,863 to $0 (aro) to
reflect the completed work. Letter of Credit No. 333 may be reduced accordingly and will be trleased by the
Finance Department.
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"MSOLUTION NO, 97 - 454
P OMER PRESERVE ADDITION (92090)
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of the
approved development contract remain as follows:
rr , • '
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Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $1,000 $1,000
Letter of Credit No. 042793 B: 59,785 $2,500
Adopted by the City Council on August 6,1997.
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