HomeMy WebLinkAboutCity Council Resolution 1997-591•
RESOLUTION NO, 97 - 591
REDUCING REQUIRED FINANCIAL GUARANTEE
CONOR MEADOWS ADDITION (96113)
WHEREAS, in accordance with the development contract dated April 3, 1997, Centex Homes, A Nevada
General Partnership, developer of Conor Meadows Addition (96113), 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, DE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
That the required financial guarantee for the above items be reduced as detailed above from $694,057 to
$289,986 to reflect the completed work. The required Financial Guarantee may be reduced accordingly.
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ORIGINAL
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Street Construction
$ 124,970
$ 80,000
Sanitary Sewer
127,229
251500
Watermain
88,460
17,700
Storm Sewer
629600
12,520
Boulevard and Drainage Swale Sod
3,600
3,600
Mitigation Pond Construction
81621
81621
NURP Pond Construction
150861
14,000
Stma Signs (4 x 200)
800
800
Wetland 11kder Posts
11200
1,200
Site Grading and Drainage Improvements
182,378
91,000
Park and Trail Improvements
4
-)-
Setting Iron Monuments
3,975
3,975
Design, Admininration, Inspection, As-Builts
24,363
31.070
TOTAL
$ 694,OS7
$ 289,986
That the required financial guarantee for the above items be reduced as detailed above from $694,057 to
$289,986 to reflect the completed work. The required Financial Guarantee may be reduced accordingly.
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•
`FSOLUTION NO, 97-91
CONOR MEADOWS ADDITION (96113)
Pop Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract remain as follows:
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 382183:
%dopted by the City Council on October 1, 1997.
$ 1,000 $11000
$ 2600 $ 26,000
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