HomeMy WebLinkAboutCity Council Resolution 2002-090CITY OF PLYMOUTH
RESOLUTION NO. 2002-090
REDUCING REQUIRED FINANCIAL GUARANTEE
PARK WOODS TOWNHOMES ADDITION (95127)
WHEREAS, in accordance with the development contract dated February 12, 1996, New Home Services,
Inc., developer of Park Woods Townhomes Addition (95127), 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 remains as detailed above in the amount of $0 (zero)
to reflect the completed work. The Finance Department previously released the required financial guarantee.
C Documents and Settnig,unfiee,eLocal Settmg, Temp CCR 2002-09053589 CCR 2002-090 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$54,415
$_0_
Maintenance and Replacement of Temp. Road
20,000
-0-
Seal Coat Parking Lot
1,750
-0-
Parking Lot Striping
600
-0-
Sanitary Sewer System
40,564
-0-
Watermain System
35,657
-0-
Storm Sewer System
12,483
-0-
Boulevard and Drainage Swale Sod
3,600
-0-
N[-]RP Pond Constriction
14,000
-0-
Site Clearing and Protection
24,010
-0-
Street Signs (lx200)
200
-0-
Park and Trail Improvements
7,112
-0-
Site Grading and Drainage Imp.
136,750
-0-
Setting Iron Monuments
625
-0-
SUB-TOTAL
351,766
-0-
Design, Admin., Insp., As-Builts (12%)
42,212
-0-
TOTAL
$393,978
$_0_
That the required financial guarantee for the above items remains as detailed above in the amount of $0 (zero)
to reflect the completed work. The Finance Department previously released the required financial guarantee.
C Documents and Settnig,unfiee,eLocal Settmg, Temp CCR 2002-09053589 CCR 2002-090 doe
RESOLUTION NO. 2002-090
PARK WOODS TOWNHOMES ADDITION (95127)
Page Two
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. I-Parkwood:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $-0-
$8,780 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
to $0 (zero), with the required financial guarantee being reduced from $1,000 to $0 (zero). The required
financial guarantee, in this case cash, and Letter of Credit No. I-Parkwood may be reduced accordingly and
will be released by the Finance Department.
Adopted by the City Council on February 26, 2002.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-09053589 CCR 2002-090 doe