HomeMy WebLinkAboutCity Council Resolution 1997-734•
RESOLUTION NO. 97 - 734
REDUCING REQUIRED FINANCIAL GUARANTEE
EVERGREEN KNOLL ADDITION (96041)
WHEREAS, in accordance with the development contract dated November 21, 1996, Fazmdin Brothers,
Inc., developer of Evergreen Knoll Addition (96041), 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; wid
WHEREAS, the devek, •r has requested a reduction of the required financial gurrantee 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:
That the required financial guarantee for the above items be reduced as detailed above from $193,663 to
558,237 to reflect the completed work. The Financial Guamatee may be reduced accordingly.
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ORIGINAL
NEW
®'ELI
AMOUNT
AMOUNT
Street Construction
S 48,250
S91650
Sanitary Sewer System
28,376
5,675
Co. Rd. 6 Bypass Lane
3,000
600
Watermain System
33.297
609
Storm Sewer System
34,721
6,944
Boulevard and Drainage Swale Sod
21200
21200
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
39500
700
Street Signs t 1 x 200)
200
200
Site Brading and Drainage Improvements
18.769
189769
Park and Trail Improvements
-J-
-0-
Setting ILbn Monuments
600
600
Design, Administration, Inspection, As-Builts
20,750
6.240
TOTAL
$193,663
S S8,Z37
That the required financial guarantee for the above items be reduced as detailed above from $193,663 to
558,237 to reflect the completed work. The Financial Guamatee may be reduced accordingly.
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'ESOLUTION NO. 97-734
EVERGREEN KNOLL ADDITION (96041)
Page 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:
P-Vu
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 114 97:
Adopted by the City Council on December 3, 1997.
i 1141
RI . „ I NI
$1,000 $ 1,000
$ 6,500 $6,500
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