HomeMy WebLinkAboutCity Council Resolution 2002-013RESOLUTION NO. 2002-013
REDUCING REQUIRED 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 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 are reduced as follows:
That the required financial guarantee for the above items be reduced as detailed above from $50,976 to
$4,368 to reflect the completed work. Letter of Credit No. 1184 may be reduced accordingly.
C Dc)cnments acid Settnig, anfieese,Local Setting, TempVC('R 2002-013 3512CCR 2002-013.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 58,200
$ -0-
Sanitary Sewer
31,100
-0-
Watermain
3 8,115
-0-
Storm Sewer
59,720
-0-
Boulevard and Drainage Swale Sod
3,800
1,900
Retaining Wall A
36,000
-0-
Retaining Wall B
14,000
-0-
Mitigation Pond Constriction
-0-
-0-
N[-]RP Pond Constriction
7,000
-0-
Street Signs (lx200)
200
-0-
Site Grading and Drainage Improvements
43,000
2,000
Park and Trail Improvements
5,060
-0-
Setting Iron Monuments
1,275
-0-
Design, Administration, Inspection, As-Builts
35,696
468
TOTAL
$ 333,166
$ 4,368
That the required financial guarantee for the above items be reduced as detailed above from $50,976 to
$4,368 to reflect the completed work. Letter of Credit No. 1184 may be reduced accordingly.
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RESOLUTION NO. 2002-013
Hilltop of Plymouth Addition (20003)
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
Cash:
Letter of Credit No. 1183:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 6,800 $ 3,400
FURTHER BE IT RESOLVED that the street constriction is accepted for continual maintenance as of
January 8, 2001 subject to the one year guarantee by the Developer per Maintenance Bond No. 5 62 47 10
issued by Great American Insurance Company.
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer constriction is accepted
for continual maintenance as of January 8, 2001 subject to the two year guarantee by the Developer per
Maintenance Bond No. 5 62 47 11 issued by Great American Insurance Company.
Adopted by the City Council on January 8, 2002.
C Dc)cnments acid Settnig, anfieese,Local Setting, TempVC('R 2002-013 3512CCR 2002-013.doc