HomeMy WebLinkAboutCity Council Resolution 1997-636•
RESOLUTION NO. 97-636
REDUCING REQUIRED PLAT FINANCIAL GUARANTEE
FORSTER ESERVE
WHEREAS, in accordance with the development contract dated September 22, 1994, JANCO, Inc.,
developer of Forster Preserve Plat 2 (94057), has agreed to install certain improvements for said
development; and
ted a Portion of the street, utility and site grading as Doted below;
WHEREAS, the developer has comple
and
WHEREAS, the developer has requested a reduction of the required ficial guarantee to reflect the
completed work;
NOW, THEREFO1tE, BE IT HEREBY RESOLVED BY THE
ettun Pare � � asOfollowE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee req
Em ORIGINAL NEW
AMQM AND=
to
That the financial guarantee required for the above items be reduced JNi 2519 originadetailed vlly pro dad ie from n the
$12,544 to reflect the completed work. Performance Bond No.
amount of $690,942 (460,628 x 150%) as the required financial guarantee may be reduced to $18,816
($12,544 x 15096).
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$172,230
$ 10,000•
Street Construction
113,200
-0-
Sanitary Sewer
93,725
-0-
Watermain
586145
-0-
Storm Sewer
Boulevard and Drainage Swale Sod
9,800
1,200
-0-
Mitigation Pond Construction
-n-
5,460
-0-
Sediment Pond Construction
11400
.0 -
Street Signs (7 x 200)
Site Grading and Drainage Improvements
134,800
-0-
-0-
Park and Trail Improvements
4
3,800
-0-
Setting Iron :Monuments
Design, Administration, Inspection, As-Builts
ILIM
Lim
$663,667
$129344
TOTAL
to
That the financial guarantee required for the above items be reduced JNi 2519 originadetailed vlly pro dad ie from n the
$12,544 to reflect the completed work. Performance Bond No.
amount of $690,942 (460,628 x 150%) as the required financial guarantee may be reduced to $18,816
($12,544 x 15096).
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•
p%moLuTIOO. 97-636
FoRffnSER T 2 (94057)
Pap TWO
requirements for the following items per
FURTHER BE Tf RESOLVED that the financial guarantee
Section 8.1 of the approved development contract be reduced
as ORIGINAL NEW
MM AMD= AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning Cash: $1,000 $1,000
Financial Guarantee No. 400 JV 3364: 09000 $5,000
FURTHER BE I T RESOLVED that the financial guarantee for the above items remain at $1,000 cash with
Letter of Credit No. 400 JV 3364 being reduced from $10,000 to $5,000. The financial guarantee may be
reduced accordingly • truction is acceted for continual maintenance
as of
:URTHER BE IT RESOLVED that the street b the developer per Maintenance Bond NoJX6620
October 15, 1997 subject to the one year guaranteeY
issued by the St. Paul Fire and Marine Insurance Company
+ Retained for construction of the access road to the City's well site.
Adopted by the City Council on October 15. 1997.
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•