HomeMy WebLinkAboutCity Council Resolution 2003-546CITY OF PLYMOUTH
RESOLUTION NO. 2003-546
FINAL RELEASE OF FINANCIAL GUARANTEE
PLUM TREE 3RD ADDITION (97034)
WHEREAS, in accordance with the development contract dated May 8, 1997, Lundgren Bros. Construction,
Inc., developer of Plum Tree 3rd Addition (97034), 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 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:
ORIGINAL CURRENT NEW
ITEM AMOUNT AMOUNT AMOUNT
Street Construction
$ 151,000
$ -0-
-0-
Sanitary Sewer
127,000
-0-
-0-
Watermain
67,000
-0-
-0-
Storm Sewer
102,000
-0-
-0-
Boulevard and Drainage Swale Sod
8,000
5,800
-0-
Mitigation Pond Construction
-0-
-0-
-0-
Wetland Buffer Monuments
460
60
-0-
NURP Pond Construction
10,000
-0-
-0-
Street Signs (4 x 200)
800
-0-
-0-
Site Grading and Drainage Improvements
-0-
-0-
-0-
Park and Trail Improvements
-0-
-0-
-0-
Sidewalk
22,000
-0-
-0-
Setting Iron Monuments
2,400
-0-
-0-
Design, Administration, Inspection, As-
58,879
703
-0-
Builts
TOTAL $ 549,539 $ 6,563 $ -0-
RESOLUTION NO. 2003-546
PLUM TREE 3" ADDITION (97034)
Page Two
That the required financial guarantee for the above items be reduced as detailed above from $6,563 to $-0-
(zero) to reflect the completed work. Letter of Credit No. 17593 may be reduced accordingly and 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 remain as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning [See Plum Tree 2nd Addition (94090)]
Cash:
Financial Guarantee:
Adopted by the City Council on November 25, 2003.
ORIGINAL NEW
AMOUNT AMOUNT
$ -0- $-0-
$-0-
-0-
$-0- $ -0-