HomeMy WebLinkAboutCity Council Resolution 2004-379CITY OF PLYMOUTH
RESOLUTION NO.2004-379
FINAL RELEASE OF FINANCIAL GUARANTEE
WESTBRANCH 2ND ADDITION (94045)
WHEREAS, in accordance with the development contract dated June 30, 1994, U.S. Homes
Corporation, developer of Westbranch 2nd Addition (94045), 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
$342,000
$-0-
(Excluding City Proj. No. 308)
Sanitary Sewer
183,000
-0-
Watermain
136,000
-0-
Storm Sewer
46,000
-0-
Boulevard and Drainage Swale Sod
22,000
-0-
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
3,700
-0-
Street Signs (9 x 200)
1,800
-0-
Site Grading and Drainage Improvements
240,300
-0-
Park and Trail Improvements
11,700
-0-
Setting Iron Monuments
7,000
-0-
Design, Administration, Inspection, As-Builts
119,220
-0-
TOTAL
$1,112,720
$-0-
RESOLUTION NO. 2004-379
WESTBRANCH 2ND ADDITION (94045)
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 (Includes financial guarantee
for Westbranch -1 Addition (94046))
Cash
Letter of Credit No. 94034
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $1,000 $-0-
$90,750 $5,000 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from
$6,000 to $0 (zero). Letter of Credit No. 94034 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.