HomeMy WebLinkAboutCity Council Resolution 2001-018RESOLUTION NO. 2001-018
REDUCING REQUIRED FINANCIAL GUARANTEE
PIKE LAKE WOODS 3D ADDITION (98170)
WHEREAS, in accordance with the development contract dated November 5, 1998, Pike Lake Woods 2" a
Addition, Inc., developer of Pike Lake Woods 3ra Addition (98170), 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 $101,866 to
$55,358 to reflect the completed work. Letter of Credit No. 30692-E may be reduced accordingly.
C Documents and Settnig, anfieese,Local Setting, TempVC(R 2001-018 54241 CCR 2001-018 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 181,137
$ 36,227
Sanitary Sewer
85,905
-0-
Watermain
63,094
-0-
Storm Sewer
58,623
-0-
Boulevard and Drainage Swale Sod
6,000
2,800
Mitigation Pond Constriction
-0-
-0-
N[-]RP Pond Constriction
59,077
1,000
Street Signs (2 x 200)
400
400
Site Grading and Drainage Improvements
236,304
9,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,600
-0-
Design, Administration, Inspection, As-Builts
83,057
5,931
TOTAL
$ 775,197
$ 55,358
That the required financial guarantee for the above items be reduced as detailed above from $101,866 to
$55,358 to reflect the completed work. Letter of Credit No. 30692-E may be reduced accordingly.
C Documents and Settnig, anfieese,Local Setting, TempVC(R 2001-018 54241 CCR 2001-018 doe
RESOLUTION NO. 2001-018
PIKE LAKE WOODS 3RD ADDITION (98170)
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:
Letter of Credit No. 30692-D:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 11,000 $ 11,000
FURTHER BE IT RESOLVED that the watermain, sanitary sewer and storm sewer constriction is accepted
for continual maintenance as of January 9, 2001 subject to the two year guarantee by the Developer per
Maintenance Bond No. 190457949-A issued by American Casualty Company of America.
Adopted by the City Council on January 9, 2001.
C Documents and Settnig, anfieese,Local Setting, TempVC(R 2001-018 54241 CCR 2001-018 doe