HomeMy WebLinkAboutCity Council Resolution 2004-351CITY OF PLYMOUTH
RESOLUTION NO. 2004-351
FINAL RELEASE OF FINANCIAL GUARANTEE
PARKERS LAKE SHORES (20078)
WHEREAS, in accordance with the development contract dated May 23, 2001, Parkers
Lake Shores LTD Partnership, developer of Parkers Lake Shores (20078), 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 that the required financial guarantees be
released to reflect the completed work; and
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
$27,765
-0-
Sanitary Sewer
13,582
-0-
Watermain
17,094
-0-
Storm Sewer
27,856
-0-
Boulevard and Drainage Swale Sod
2,000
-0-
Mitigation Pond Constriction
-0-
-0-
N [_]RP Pond Constriction
15,130
-0-
Street Signs (0 x 200)
-0-
-0-
Site Grading and Drainage Improvements
55,000
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-
19,011
-0-
Bullts
TOTAL
$177,438
$0
RESOLUTION NO. 2004-351
PARKERS LAKE SHORES (20078)
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:
Cash in lieu of letter of credit:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $1,000 $-0-
$3,000 $3,000 $-0-
FURTHER BE IT RESOLVED that the required financial guarantee for the above items
be reduced as detailed above from $4000 cash to $-0- (zero), and released by the Finance
Department.
Adopted by the City Council on August 24, 2004.