HomeMy WebLinkAboutCity Council Resolution 2002-437CITY OF PLYMOUTH
RESOLUTION NO. 2002-437
REDUCING REQUIRED FINANCIAL GUARANTEE
JORDANS RIDGE (2002004)
WHEREAS, in accordance with the development contract dated May 29, 2002, Tom Car, LLC, developer of
Jordans Ridge (2002004), 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 $61,604 to
$28,231 to reflect the completed work. Letter of Credit No. 1664 001 may be reduced accordingly.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-43-53986 CCR 2002-43- doe
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 17,755
$ 17,755
$ 3,551
Sanitary Sewer
4,873
4,873
975
Watermain
8,608
8,608
1,722
Storm Sewer
6,012
6,012
1,202
Boulevard and Drainage Swale Sod
600
600
600
N [-]RP Pond Constriction
-0-
-0-
-0-
Remove Existing Building
1,500
1,500
1,500
Rain Garden
1,500
1,500
1,500
Street Signs (0 x 200)
-0-
-0-
-0-
Park and Trail Improvements
-0-
-0-
-0-
Site Grading and Drainage Improvements
14,156
14,156
14,156
Setting Iron Monuments
-0-
-0-
-0-
Design, Administration, Inspection, As-Builts
6,600
6,600
3,025
TOTAL
$ 61,604
$ 61,604
$ 28,231
That the required financial guarantee for the above items be reduced as detailed above from $61,604 to
$28,231 to reflect the completed work. Letter of Credit No. 1664 001 may be reduced accordingly.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-43-53986 CCR 2002-43- doe
RESOLUTION NO. 2002-437
JORDANS RIDGE (2002004)
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:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $ 1,000 $ 1,000
Letter of Credit No. 1664 002: $ 1,000 $ 1,000
Adopted by the City Council on September 24, 2002.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-43-53986 CCR 2002-43- doe