HomeMy WebLinkAboutCity Council Resolution 2003-081CITY OF PLYMOUTH
RESOLUTION NO. 2003-081
REDUCING REQUIRED FINANCIAL GUARANTEE
CASCADES (2002058)
WHEREAS, in accordance with the development contract dated November 6, 2002, Lundgren Bros.
Construction, Inc., developer of Cascades (2002058), 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 $782,808 to
$363,005 to reflect the completed work. The financial guarantee may be reduced accordingly.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$ 172,429
$ 172,429
$ 146,565
Sanitary Sewer
100,741
100,741
20,148
Watermain
132,335
132,335
26,467
Storm Sewer
119,068
119,068
23,814
Boulevard and Drainage Swale Sod
10,800
10,800
10,800
Rain Garden Construction
6,000
6,000
6,000
NURP Pond Construction
6,200
6,200
6,200
Street Signs (5 x 200)
1,000
1,000
1,000
Park and Trail Improvements
35,775
35,775
35,775
Site Grading and Drainage Improvements
107,908
107,908
43,163
Setting Iron Monuments
4,180
4,180
4,180
Design, Administration, Inspection, As-Builts
83,872
83,872
38,893
TOTAL
$ 782,808
$ 782,808
$ 363,005
That the required financial guarantee for the above items be reduced as detailed above from $782,808 to
$363,005 to reflect the completed work. The financial guarantee may be reduced accordingly.
RESOLUTION NO. 2003-081
CASCADES (2002058)
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-