HomeMy WebLinkAboutCity Council Resolution 2004-373CITY OF PLYMOUTH
RESOLUTION NO. 2004-373
FINAL RELEASE OF FINANCIAL GUARANTEE
FORSTER PRESERVE ADDITION (92090)
WHEREAS in accordance with the development contract dated March 22, 1993, JANCO, Inc.,
developer of Forster Preserve Addition (92090), 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 development bond to reflect the completed
work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
ITEM
ORIGINAL
CURRENT
AMOUNT
AMOUNT
Street Constriction
$50,514
$-0-
Sanitary Sewer
43,515
-0-
Watermain
33,910
-0-
Storm Sewer
26,323
-0-
Boulevard and Drainage Swale Sod
4,400
-0-
Drainage Pond Constriction
662
-0-
Mitigation Pond Constriction
2,650
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
129,088
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
2,310
-0-
Design, Administration, Inspection, As-Builts
35,252
-0-
TOTAL
$329,024
$-0-
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section 8.1
of the approved development contract remain as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash
Letter of Credit No. 042793 B
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $1,000 $-0-
$9,785 $2,500 $-0-
Resolution No. 2004-373
Page 2
FURTHER BE IT RESOLVED; that the Financial Guarantee for Maintenance of Erosion and
Sediment Control Plan be reduced from $3,500 to $-0- (zero). Letter of Credit No. 042793B and the
remainder of the $1,000 cash may be released by the Finance Department.
Adopted by the City Council on September 13, 2004.