HomeMy WebLinkAboutCity Council Resolution 2004-374CITY OF PLYMOUTH
RESOLUTION NO. 2004-374
FINAL RELEASE OF FINANCIAL GUARANTEE
FORSTER PRESERVE PLAT 2 (94057)
WHEREAS, in accordance with the development contract dated September 22, 1994, JANCO, Inc.,
developer of Forster Preserve Plat 2 (94057), 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
ORIGINAL
CURRENT
AMOUNT
AMOUNT
Street Constriction *
$172,230
$-0-
Sanitary Sewer
113,200
-0-
Watermain
93,725
-0-
Storm Sewer
58,145
-0-
Boulevard and Drainage Swale Sod
9,800
-0-
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
5,460
-0-
Street Signs (7 x 200)
1,400
-0-
Site Grading and Drainage Improvements
134,800
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
3,800
-0-
Design, Administration, Inspection, As-Builts
71,107
-0-
TOTAL
$663,667
$-0-
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
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
Cash: $1,000 $1,000 $-0-
Financial Guarantee No. 400 JV 3364: $30,000 $5,000 $-0-
Includes constriction of the access road to the City's well site.
Resolution No. 2004-374
Page 2
FURTHER BE IT RESOLVED; that the remainder of the $1,000 cash and Financial Guarantee No.
400JV3364 be released by the Finance Department.
Adopted by the City Council on September 13.