HomeMy WebLinkAboutCity Council Resolution 2004-220CITY OF PLYMOUTH
RESOLUTION NO. 2004-220
FINAL RELEASE OF FINANCIAL GUARANTEE
THE PONDS AT BASS CREEK 3RD ADDITION (96091)
WHEREAS, in accordance with the development contract dated August 8, 1996, McHunter Co.,
LLC, developer of The Ponds at Bass Creek -1 Addition (96091), 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:
That the required financial guarantee for the above items be reduced as detailed above from $5,152
to $-0- (zero) to reflect the completed work. Letter of Credit No. 6076 -896 -DI may be released by
the Finance Department.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 60,920
$ -0-
$ -0-
Sanitary Sewer
41,860
-0-
-0-
Watermain
41,600
-0-
-0-
Storm Sewer
12,280
-0-
-0-
Boulevard and Drainage Swale Sod
4,600
4,000
-0-
Mitigation Pond Constriction
600
600
-0-
Sediment Pond Constriction
-0-
-0-
-0-
Street Signs (200)
-0-
-0-
-0-
Site Grading and Drainage Improvements
88,133
-0-
-0-
Park and Trail Improvements
1,935
-0-
-0-
Setting Iron Monuments
1,800
-0-
-0-
Design, Administration, Inspection, As-Builts
30,447
552
-0-
TOTAL
$ 284,175
$ 5,152
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $5,152
to $-0- (zero) to reflect the completed work. Letter of Credit No. 6076 -896 -DI may be released by
the Finance Department.
RESOLUTION NO. 2004 -220
THE PONDS AT BASS CREEK 3RD ADDITION (96091)
Page Two
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and
Storm
Sewer Cleaning
Cash:
Letter of Credit No. 6076 -896 -LS:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $-0-
$ 17,000 $ 8,500 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from
$1,000 cash to $-0- (zero) and the financial guarantee letter of credit be reduced from $8,500 to $-0-
(zero). Letter of Credit No. 6076 -896 -LS may be released by the Finance Department.
Adopted by the City Council on June 8, 2004.