HomeMy WebLinkAboutCity Council Resolution 2003-511CITY OF PLYMOUTH
RESOLUTION NO. 2003-511
FINAL RELEASE OF FINANCIAL GUARANTEE
HILLTOP OF PLYMOUTH ADDITION (20003)
WHEREAS, in accordance with the development contract dated June 28, 2000, Alan Chazin Homes, Inc.,
developer of Hilltop of Plymouth Addition (20003), 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 final release 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:
Builts
TOTAL $ 333,166 $ 4,368 $ -0-
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Construction
$ 58,200
$ -0-
$ -0-
Sanitary Sewer
31,100
-0-
-0-
Watermain
38,115
-0-
-0-
Storm Sewer
59,720
-0-
-0-
Boulevard and Drainage Swale Sod
3,800
1,900
-0-
Retaining Wall A
36,000
-0-
-0-
Retaining Wall B
14,000
-0-
-0-
Mitigation Pond Construction
-0-
-0-
-0-
NURP Pond Construction
7,000
-0-
-0-
Street Signs (lx200)
200
-0-
-0-
Site Grading and Drainage Improvements
43,000
2,000
-0-
Park and Trail Improvements
5,060
-0-
-0-
Setting Iron Monuments
1,275
-0-
-0-
Design, Administration, Inspection, As-
35,696
468
-0-
Builts
TOTAL $ 333,166 $ 4,368 $ -0-
RESOLUTION NO. 2003-511
Hilltop of Plymouth Addition (20003)
Page Two
That the required financial guarantee for the above items be reduced as detailed above from $4,368 to $0
(zero) to reflect the completed work. Letter of Credit No. 1184 may be reduced accordingly and will be
released by the Finance Department.
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
Cash:
Letter of Credit No. 1183:
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $-0-
$6,800
-0-
$6,800 $ 3,400 $ -0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
to $0 (zero) and Letter of Credit No. 1183 in the amount of $3,400 to $0 (zero). The financial guarantee may
be reduced accordingly and will be released by the Finance Director.
Adopted by the City Council on November 10, 2003.