HomeMy WebLinkAboutCity Council Resolution 2004-420CITY OF PLYMOUTH
RESOLUTION NO. 2004-420
FINAL RELEASE OF FINANCIAL GUARANTEE
HARRISON PLACE ON BASS CREEK ADDITION (94051)
WHEREAS, in accordance with the development contract dated December 5, 1994, McHunter Co., LLC,
developer of Harrison Place on Bass Creek Addition (94051), 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
ORIGINAL
NEW
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$114,275
$-0-
$-0-
Co. Rd. 10 Turn Lane
29,260
-0-
-0-
Sanitary Sewer
50,178
-0-
-0-
Watermain
77,710
-0-
-0-
Storm Sewer
81,580
-0-
-0-
Boulevard and Drainage Swale Sod
4,000
2,000
-0-
Mitigation Pond Constriction
-0-
-0-
-0-
Sediment Pond Constriction
3,040
-0-
-0-
Wetland Buffer Delineation Posts
2,000
2,000
-0-
Street Signs (4 x 200)
800
-0-
-0-
Site Grading and Drainage Improvements
99,760
19,952
-0-
Park and Trail Improvements
-0-
-0-
-0-
Setting Iron Monuments
5,000
2,000
-0-
Design, Administration, Inspection, As-Builts
56,112
3,114
-0-
TOTAL
$523,715
$29,066
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $29,066 to $0
(zero) to reflect the completed work. Letter of Credit No. 1648 -895 -DI may be released by the Finance
Department.
RESOLUTION NO. 2004-420
HARRISON PLACE ON BASS CREEK ADDITION (94051)
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
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
Cash: $1,000 $1,000 $-0-
Letter of Credit No. 1649-59513: $23,750 $11,875 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $12,875
to $0 (zero). Letter of Credit No. 1649-595B in the amount of $11,875, and the remainder of the $1,000
cash may be released by the Finance Department..
Adopted by the City Council on October 12, 2004.