HomeMy WebLinkAboutCity Council Resolution 2004-378CITY OF PLYMOUTH
RESOLUTION NO. 2004-378
FINAL RELEASE OF FINANCIAL GUARANTEE
WESTBRANCH ADDITION FKA PLYMOUTH
CREEK HEIGHTS ADDITION (92115)
WHEREAS, in accordance with the development contract dated October 11, 1993, U.S. Home
Corporation, developer of Plymouth Creek Heights Addition (92115), 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 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 (except Dunkirk Lane)
$177,000
$-0-
Sanitary Sewer
115,000
-0-
Watermain
81,000
-0-
Storm Sewer
81,000
-0-
Boulevard and Drainage Swale Sod
15,000
-0-
Mitigation Pond Constriction
4,865
-0-
Sediment Pond Constriction
1,589
-0-
Street Signs (5 x 200)
1,000
-0-
Site Grading and Drainage Improvements
149,546
-0-
Park and Trail Improvements
7,000
-0-
Setting Iron Monuments
8,347
-0-
Design, Administration, Inspection, As-Builts
76,961
-0-
TOTAL
$718,308
$-0-
RESOLUTION NO. 2004-378
WESTBRANCH ADDITION FKA PLYMOUTH CREEK HEIGHTS ADDITION (92115)
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:
Letter of Credit No. FGAC-93054:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $-0-
$37,250 $3,000 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from
$4,000 to $0 (zero). Letter of Credit No. FGAC-93054 and the remainder of the $1,000 cash
guarantee may be released by the Finance Department.
Adopted by the City Council on September 13, 2004.