HomeMy WebLinkAboutCity Council Resolution 2002-068CITY OF PLYMOUTH
RESOLUTION NO. 2002-068
REDUCING REQUIRED FINANCIAL GUARANTEE
PLYMOUTH WOODS OFFICE CENTER (97160)
WHEREAS, in accordance with the development contract dated January 27, 1998, St. Paul Properties, Inc.,
developer of Plymouth Woods Office Center (97160), 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 $49,239 to
$29,892 to reflect the completed work. Bond No. 343796 submitted as the financial guarantee may be
reduced from $74,000 (150% x $49,239) to $44,838 (150% x $29,892).
C Documents and Settnig, anfieese,Local Setting, TempVC(R 2002-068 356 - CCR 2002-068 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction (Fernbrook Lane)
$ 17,274
$ -0-
Street Constriction (Empire Lane)
22,689
22,689
Sanitary Sewer
-0-
-0-
Watermain
-0-
-0-
Storm Sewer
4,000
4,000
Boulevard and Drainage Swale Sod
-0-
-0-
Mitigation Pond Constriction
-0-
-0-
N [-]RP Pond Constriction
-0-
-0-
Street Signs (0x200)
-0-
-0-
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
5,276
3,203
TOTAL
$ 49,239
$ 29,892
That the required financial guarantee for the above items be reduced as detailed above from $49,239 to
$29,892 to reflect the completed work. Bond No. 343796 submitted as the financial guarantee may be
reduced from $74,000 (150% x $49,239) to $44,838 (150% x $29,892).
C Documents and Settnig, anfieese,Local Setting, TempVC(R 2002-068 356 - CCR 2002-068 doe
RESOLUTION NO. 2002-068
Plymouth Woods Office Center (97160)
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:
ORIGINAL NEW
AMOUNT AMOUNT
$ -0- $-0-
$-0-
-0-
$-0- $ -0-
FURTHER BE IT RESOLVED that the Fernbrook Lane street constriction is accepted for continual
maintenance as of February 12, 2002.
Adopted by the City Council on February 12, 2002.
C Documents and Settnig, anfieese,Local Setting, TempVC(R 2002-068 356 - CCR 2002-068 doe