HomeMy WebLinkAboutCity Council Resolution 2002-436CITY OF PLYMOUTH
RESOLUTION NO. 2002-436
REDUCING REQUIRED FINANCIAL GUARANTEE
ROCKFORD GLEN ADDITION (94155)
WHEREAS, in accordance with the development contract dated August 8, 1995, Janco, Inc. and Rottlund
Company, Inc. and Arnold J. Wentland and Janet E. Wentland, developers of Rockford Glen Addition
(94155), have 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:
ITEM
Street Constriction
(excluding City Proj. No's 502 & 503)
Sanitary Sewer
(excluding City Proj. No's 502 & 503)
Watermain
(excluding City Proj. No's 502 & 503)
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Constriction
N [_]RP Pond Constriction
Street Signs (6 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-
Bullts
TOTAL
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
$240,000
$ -0-
$ -0-
226,000
-0-
-0-
226,000
-0-
-0-
133,750
-0-
-0-
12,400
-0-
-0-
18,000
18,000
-0-
14,000
-0-
-0-
1,200
-0-
-0-
357,000
-0-
-0-
-0-
-0-
-0-
6,650
-0-
-0-
148,200
2,160
-0-
$1,383,200
$20,160
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $20,160 to $0
(zero) to reflect the completed work. Development Bond No. 86541 may be reduced from $30,240 ($20,160
x 150%) to $0 (zero) and will be released by the Finance Department.
RESOLUTION NO. 2002-436
ROCKFORD GLEN ADDITION (94155)
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:
Cash in lieu of a letter of credit:
ORIGINAL CURRENT
AMOUNT AMOUNT
$1,000 $-0-
$30,050 $-0-
FURTHER BE IT RESOLVED that the Rockford Glen Addition (94155) has fiilfilled its obligation for
wetland mitigation. The project is now considered complete and has satisfied the Wetland Conservation Act
requirements.
Adopted by the City Council on September 24, 2002.