HomeMy WebLinkAboutCity Council Resolution 1997-483L
RESOLUTION NO. 97 - 483
REDUCING REQUIRED FINANCIAL GUARANTEE
PLYMOUTH TECHNOLOGY PARK (91031)
WHEREAS, in accordance %vith the development contract dated December 11, 1997, Plymouth Partners H,
developer of Plymouth Technology Park (91031), 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, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
Street Construction
$69J79
$139836
Sanitary Sewer
99950
1,990
Watennain
17,876
39575
Storm Sewer
41,220
81244
Boulevard and Drainage Swale Sod
21999
2,999
Mitigation Pond Cons=tion
0
0
Treatment Pond Construction
24,000
4,800
Street Signs (I x $200)
200
200
Site Grading and Drainage Improvements
889680
31,038
Park and Trail Improvements
0
0
Setting In,n Monuments
0
0
Design, Administration, Inspection, As-Builts
30.492
im
TOTAL
S 284,596
574j684
That the required financial guarantee for the above items he reduced as detailed above l}om $136,668 to
$74,684 to reflect the completed work. The Financial Guawre may be reduced accordingly.
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RESOLUTION NO. 97493
PLYMOUTH TECHNOLOGY PARK (91031)
Pale Two
FURTHER BE rr RESOLVED that the financial guaranty requirements for the following items per Section
8.1 of the approved development contract be reduced as follows:
LWi
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 1087 96:
Adopted by the City Council on August 20, 1997.
S 1,000 $1,000
K395 S89395
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