HomeMy WebLinkAboutCity Council Resolution 2004-199CITY OF PLYMOUTH
RESOLUTION NO. 2004-199
FINAL RELEASE OF FINANCIAL GUARANTEE
SUGAR HILLS 4TH ADDITION (95090)
WHEREAS, in accordance with the development contract dated May 16, 1996, Eugene R.
Forbragd, Darlene R. Forbragd, Martin H. Harstad and Janice E. Harstad, developers of Sugar
Hills 4t1' Addition (95090), have agreed to install certain improvements for said development;
and
WHEREAS, the developers have completed the street, utility and site grading as noted below;
and
WHEREAS, the developers have requested a reduction of the required financial guarantee 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:
ORIGINAL
CURRENT
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 63,000
$ -0-
Sanitary Sewer
33,000
-0-
Watermain
34,000
-0-
Storm Sewer
16,000
-0-
Boulevard and Drainage Swale Sod
4,400
-0-
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
5,000
-0-
Street Signs (lx200)
200
-0-
Site Grading and Drainage Improvements
15,000
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,500
-0-
Design, Administration, Inspection, As-Builts
20,652
-0-
TOTAL
$ 192,752
$ -0-
RESOLUTION NO. 2004-199
SUGAR HILLS 4TH ADDITION (95090)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items
per Section 8.1 of the approved development contract be reduced as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 13369:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $-0-
$8,800 $ 3,000 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be released from
$1,000 cash to $0 (zero) and the letter of credit from $3,000 to $0 (zero). Letter of Credit No.
13369 may be released by the Finance Department.
Adopted by the City Council on May 25, 2004.