HomeMy WebLinkAboutCity Council Resolution 1997-502•
RESOLUTION NO, 97-502
REDUCING REQUIRED FINANCI IL G'.TARANTEE
NANTERRE ADDITION (94093)
WHEREAS, in accordance with the development contract dated October 13, 1995, Weston Corporation,
developer of Nanterre Addition (94093), 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:
1TF� ORIGINAL NEW
AMOUNT AMOUNT
Street Construction (excluding State
$1329703
$ 61,838
Aid Proj.)
200,629
-0-
Sanitary Sewer
140,876
-0-
Watermain
76,230
15,246
Storm Sever
Boulevard and Drainage Swale Sod
9,000
9,000
Mitigation Pond Construction
2
10,000
NURP Pond Construction
1 ,000
1,200
1,2�
Street Signa (6 x 200)
Site Graduig and Drainage Improvements
384,250
76,850
(excluding State Aid Proj.)
Park and Trail Improvements
10,175
10,179
(excluding State Aid Proj.)
3,600
3,600
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
117,440
22,550
Wetland Mitigation and Performance
Monitoring
imp
13,400
TOTAL
$1,109,50'
$223,853
That the required futancial guarantee for the above items will remain it $223,853 to reflect the completed
work
NMY.a1sIW Wmmlumke pkrn„r CWt LL%=WM%Rud1"""= 69 "'Sol 6-2
•
•
RESOLUTION NO. 97-502
,NANTERRE ADDITION (94093)
Pap Two
FURTPER BE IT RESOLVED that the financial guarantee requirements for the following items pa Section
8.1 of the approved deeeelopma<t amtract be reduced a follows:
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (See Grading Permit
No. 67717)
Cash:
Letter of Credit No. 1611:
pumallia
51,000 51,000
595,000 $83,125
FURTHER BE IT RESOLVED that the financial guarantee for the above items remain at $1,000 cash with
the required financial guarantee being reduced from 595,000 to 583,125. The financial guarantee may be
-educed accordingly. Since Letter of Credit No. 1611 includes 55,000 for tree preservation it should have a
total amount of $889125.
Adopted by the City Council on September 3, 1997.
„nom wurwivumwar�e. oeo.��eounenawaw��Rn�erbs�nee m nam.re
•