HomeMy WebLinkAboutCity Council Resolution 2003-255CITY OF PLYMOUTH
RESOLUTION NO. 2003-255
REDUCING REQUIRED FINANCIAL GUARANTEE
GLACIER VISTA (2001026)
WHEREAS, in accordance with the development contract dated June 10, 2002, Nedegaard Construction,
Inc., developer of Glacier Vista (2001026), 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 $1,784,366 to
$874,019 to reflect the completed work. The financial guarantee may be reduced accordingly.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$ 344,692
$ 344,692
$ 170,000
Sanitary Sewer
213,143
213,143
63,943
Watermain
159,290
159,290
47,787
Storm Sewer
179,624
179,624
53,887
Boulevard and Drainage Swale Sod
13,000
13,000
13,000
NURP Pond Construction
10,000
10,000
10,000
Retaining Wall (Trail Construction)
19,000
19,000
3,800
Street Signs (4 x 200)
800
800
800
Park and Trail Improvements
58,440
58,440
58,440
Site Grading and Drainage Improvements
591,195
591,195
354,717
Setting Iron Monuments
4,000
4,000
4,000
Design, Administration, Inspection, As-Builts
191,182
191,182
93,645
TOTAL
$ 1,784,366
$ 1,784,366
$ 874,019
That the required financial guarantee for the above items be reduced as detailed above from $1,784,366 to
$874,019 to reflect the completed work. The financial guarantee may be reduced accordingly.
RESOLUTION NO. 2003-255
GLACIER VISTA (2001026)
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 May 27, 2003.
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ -0- $ -0- $-0-
$-0-
-0-
$-0- $ -0- $ -0-