HomeMy WebLinkAboutCity Council Resolution 2002-190CITY OF PLYMOUTH
RESOLUTION NO. 2002-190
REDUCING REQUIRED FINANCIAL GUARANTEE
HARVEST HILLS (2001023)
WHEREAS, in accordance with the development contract dated September 10, 2001 and revised on March
28, 2002, Town and Country Homes, developer of Harvest Hills (2001023), has agreed to install certain
improvements for said development; and
WHEREAS, the required financial guarantee in the Development Contract (42001023) has been amended as
noted below; 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:
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-19053-1- CCR 2002-190 doe
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 376,676
$ 263,673
$ 263,673
Schmidt Lake Road Street Constriction
195,886
48,972
48,972
Sanitary Sewer
179,572
89,786
89,786
Watermain
114,780
57,390
57,390
Watermain - Schmidt Lake Road
36,470
9,118
-0-
Watermain - Holly Lane
59,809
59,809
59,809
Storm Sewer
283,505
141,752
141,752
Boulevard and Drainage Swale Sod
9,400
9,400
9,400
Rain Garden
5,000
5,000
5,000
N[ -]RP Pond Constriction
73,770
73,770
73,770
Street Signs (2 x 200)
400
400
400
Concrete Sidewalk
35,249
35,249
35,249
Park and Trail Improvements
22,069
22,069
22,069
Site Grading and Drainage Improvements
287,969
71,992
71,992
Setting Iron Monuments
8,000
8,000
8,000
Design, Administration, Inspection, As-Builts
202,627
107,566
106,471
TOTAL
$ 1,891,182
$ 1,003,946
$ 993,733
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-19053-1- CCR 2002-190 doe
Resolution No. 2002-190
Page 2
That the required financial guarantee for the above items be reduced as detailed above from $1,505,919
($1,003,946 x 150%) to $1,490,600 ($993,733 x 150%) to reflect the completed work. Subdivision Bond
No. 929219099 may be reduced accordingly.
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_
FURTIIER
-0-
FURTHER BE IT RESOLVED that the Schmidt Lake Road watermain constriction is accepted for
continuous maintenance as of April 23, 2002 subject to the two-year guarantee by the Developer per
Maintenance Bond No. 54-12332 issued by United Fire and Casualty Company.
Adopted by the City Council on April 23, 2002.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-19053-1- CCR 2002-190 doe