HomeMy WebLinkAboutCity Council Resolution 2004-219CITY OF PLYMOUTH
RESOLUTION NO. 2004-219
FINAL RELEASE OF FINANCIAL GUARANTEE
THE PONDS AT BASS CREEK 2ND ADDITION (95082)
WHEREAS, in accordance with the development contract dated September 14, 1995, McHunter
Co., LLC, developer of The Ponds at Bass Creek 2nd Addition (95082), has agreed to install
certain improvements for said development; and
WHEREAS, the developer has completed the street, utility and site grading as noted below; and
WHEREAS, the developer has 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:
ITEM
Street Constriction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Constriction
N [_]RP Pond Constriction
Street Signs (2 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$107,870
$-0-
$-0-
60,460
-0-
-0-
48,826
-0-
-0-
45,220
-0-
-0-
5,000
2,500
-0-
7,840
7,840
-0-
3,500
-0-
-0-
400
-0-
-0-
86,420
2,000
-0-
-0-
-0-
-0-
1,875
-0-
-0-
44,089
1,481
-0-
$411,500
$13,821
$-0-
That the required financial guarantee for the above items be reduced as detailed above from
$13,821 to $-0- (zero) to reflect the completed work. Letter of Credit No. 1690 -296 -DI may be
released by the Finance Department.
RESOLUTION NO. 2004-219
THE PONDS AT BASS CREEK 2ND ADDITION (95082)
Page Two
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 1648 -995 -DI:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $1,000 $-0-
$14,400 $5,000 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from
$1,000 cash to $-0- (zero) and the required financial guarantee be reduced from $5,000 to $-0-
(zero). Letter of Credit No. 1648 -995 -DI may be released by the Finance Department.
Adopted by the City Council on June 8, 2004