HomeMy WebLinkAboutCity Council Resolution 1997-499•
RESOLUTION NO.97-499
REDUCING REQUIRED FINANCIAL GUARANTEE
HARRISON PLACE ON BASS CREEK ADDITION (94051)
WHEREAS, in accordance with the development contract dated December 5, 1994, McHunter Co., LLC,
developer of Harrison Place on Bass Creek Addition (94051), 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:
LTEM
ORIGINAL
AMOUNT
NEW
AMOUNT
Street Construction
S 114,275
5 -0 -
Co. Rd. 10 Turn Lane
29,260
-0-
Sanitary Fewer
50,178
-0-
Watermain
77,710
--
Storm sever
81580
-0-
Boulevard and Drainage Swale Sod
4,000
4,000
Mitigation Pond Construction
40-
-0-
Sediment Pond Construction
39040
-0-
Wetland Buffer Delineation Posts
2,000
2,000
Street Signs (4 x 200)
800
-0-
Site Grading and Drainage Improvements
99,760
19,952
Park and Trail Improvements
40-
-0-
Setting Iron Monuments
5,000
51000
Design, Administration, Inspection, As-Builts
9.112
LW
TOTAL
S523071S
5341666
That the required financial guarantee for the above items be reduced as detailed above ftom $66,827 to
$34,666 to reflect the completed work. The required Financial Guarantee In the form of Letter of Credit No.
1648 -895 -DI may be reduced accordingly.
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•
RESOLUTION NO.97-499
HARRISON PLACE ON BASS CREEK ADDITION (94051)
Pap Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per Section
6.1 of the approved development contract be reduced as follows:
F1 -0 u
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of credit:
1 I
x, oviC1
$000 $1,000
$23,750 $23,750
FURTHER BE Tr RESOLVED that the street construction is accepted for continual maintenance as of
September 3,1997 subject to the one year guarantee by the Developer per Maintenance Bond No. 7764632.
Adopted by the City Council on September 3, 1997.
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