HomeMy WebLinkAboutCity Council Resolution 1997-684•
RESOLUTION NO. 97 - 684
REDUCING REQUIRED FINANCIAL GUARANTEE
PLUM TREE 3RO ADDITION (97034)
WHEREAS, in accordance with the development contract dated May 8, 1997, Lundgren Bros. Construction,
Inc., developer of Plum Tree 3" Addition (97034), has agreed to install certain improvements for said
development; and
WHEREAS, the developer has completed a portion of t!•,e street, utility and site grading as noted below,, and
VAU"MAS, the developer has requested a reduction of the required financiPl guarantee to ref+-ct 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 fellows:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Street Construction
$151,000
S1519000
Sanitary Sewer
127,000
25,400
Waternain
67,000
13,400
Storm Sewer
102,000
45.900
Boulevard and Drauage Swale Sod
8.000
8,000
Mitigation Pond Construction
-0-
-0-
Wetland Buffer Monuments
460
60
NURP Pond Construction
10,000
2,000
Street Signs (4 x 200)
800
800
Site Grading and Ikainage Improvements
4)-
-0-
Park and Trail !mlxovements
-0-
-0-
Sidewalk
22,000
22,000
Setting Iron Monumenu
2,400
20400
Design, Administration, Inspection, &-Builts
58.Q79
TOTAL
S 449,539
$ 303,473
That the regvired financial guarantee for the above items be reduced as detailed above from $549,539 to
$303,475 to reflect the completed work. Letter of Credit No.17393 may be reduced accordingly.
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:SOLUTION NO. 97-684
PLUM TREE 31iD ADDITION (97034)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per Section
9.1 of the approved development contract remain as follows:
M.
Maintenance of Erosion and Sediment
Control Plan. Street Sweeping, and Storm
Sewer Cleaning [See Plum Tree 2i° Addition (94090))
Cash:
Financial Guarantee:
Adopted by the City Council on November S, 1997.
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