HomeMy WebLinkAboutCity Council Resolution 2003-080CITY OF PLYMOUTH
RESOLUTION NO. 2003-080
REDUCING REQUIRED FINANCIAL GUARANTEE
SERENITY ON HADLEY LAKE (2002055)
WHEREAS, in accordance with the development contract dated October 28, 2002, Serenity Partners, LLC,
developer of Serenity on Hadley Lake (2002055), has agreed to install certain improvements for said
development; and
WHEREAS, the developer has completed a portion of 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 remain as follows:
That the required financial guarantee for the above items be reduced as detailed above from $433,175 to
$264,892 to reflect the completed work. The financial guarantee may be reduced accordingly.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$ 103,308
$ 103,308
$ 101,109
Sanitary Sewer
74,626
74,626
29,804
Watermain
59,619
59,619
27,628
Storm Sewer
37,968
37,968
28,291
Boulevard and Drainage Swale Sod
2,200
2,200
2,200
Rain Garden Construction
7,500
7,500
7,500
NURP Pond Construction
9,000
9,000
9,000
Retaining Wall
10,170
10,170
10,170
Street Signs (1 x 200)
200
200
200
Park and Trail Improvements
-0-
-0-
-0-
Site Grading and Drainage Improvements
80,522
80,522
18,959
Setting Iron Monuments
1,650
1,650
1,650
Design, Administration, Inspection, As-Builts
46,412
46,412
28,381
TOTAL
$ 433,175
$ 433,175
$ 264,892
That the required financial guarantee for the above items be reduced as detailed above from $433,175 to
$264,892 to reflect the completed work. The financial guarantee may be reduced accordingly.
RESOLUTION NO. 2003-080
SERENITY ON HADLEY LAKE (2002055)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee 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 (see Grading Permit for
Financial Guarantee Requirements)
Cash:
Financial Guarantee:
Adopted by the City Council on February 11, 2003.
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ -0- $ -0- $-0-
$-0-
-0-
$-0- $ -0- $ -0-