HomeMy WebLinkAboutCity Council Resolution 1997-756•
RESOLUTION NO. 97 - 756
REDUCING REQUIRED FINANCIAL GUARANTEE
THE COURTS OF NANTERRE (96023)
WHEREAS, in accordance with the development coatrw. dated October 17, 1997, Weston Corporation,
developer of The Courts of Nanterre (96023), has agreed to install certain improvements for said
development; and
WHEREAS, the developer has completed a portion of the street, utility and six grading as noted below, and
WHEREAS, the developer has requested a reduction of the required financial guarantee to reflect the
completed wort;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MI14NESOTA; that the financial guarantee requirements are m-duced as follows:
That the required finan -ial guarantee for the above items be reduced ar, detailed above I4om $127,870 to
$49,516 to reflect the completed work. Letter of Credit No. 1663 may be reduced accordingly.
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ORIGINAL
NEW
TTENi
AMOUNT
AMOUNT
Street Construction
565j284
$ 13,057
Sanitary Sewer
66,437
13,287
Watermain
88,660
-0-
Storm Sewer
51,037
10.207
Boulevard and Drainage Swale Sod
21400
2,400
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
-0-
-0-
Street Signs (2 x 200)
400
400
Site Grading and Drainage Improvements
10760
1,760
Perk and Trail Improvements
-0-
-0-
Setting Iron Monuments
39100
3,100
Design, Administration, Inspection, As-Builts
33.201
5.305
TOTAL
S.189,679
$49,316
That the required finan -ial guarantee for the above items be reduced ar, detailed above I4om $127,870 to
$49,516 to reflect the completed work. Letter of Credit No. 1663 may be reduced accordingly.
0 %ANnuuulRn t 4utm1n1M7-% Kn fi.?%G Me
•
"ESOLUTION NO. 97-756
HE COURTS OF NANTERRE (96023)
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:
mu -
Maintenance
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (included in Nanterre
Add. (94093))
Cash:
Financial Guarantee:
I, IL I
rx, Livia
S-0- S-0-
$-0-
-0-
S-0- S -0 -
FURTHER BE IT RESOLVED that the watennein construction is accepted for continual maintenance as of
December 17, 1997 subject to the two year gua-antee by the Developer per Maintenance Bond No. 158
"17525.
Adopted by the City Council on December 17,1997.
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