HomeMy WebLinkAboutCity Council Resolution 2001-236RESOLUTION NO. 2001-236
REDUCING REQUIRED FINANCIAL GUARANTEE
WALNUT GROVE POND ADDITION (94100)
WHEREAS, in accordance with the development contract dated May 31, 1995, Three Star Tricking,
developer of Walnut Grove Pond Addition (94100), 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:
ITEM
ORIGINAL
NEW
AMOUNT
AMOUNT
Street Constriction
$ 46,000
$ -0-
Sanitary Sewer
48,000
-0-
Watermain
3 9, 800
-0-
Storm Sewer
23,000
-0-
Boulevard and Drainage Swale Sod
4,400
800
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
-0-
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
70,500
5,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,200
-0-
Design, Administration, Inspection, As-Builts
27,996
696
TOTAL
$261,296
$6,496
That the required financial guarantee for the above items be reduced as detailed above from $24,528 to
$6,496 to reflect the completed work. Letter of Credit No. 96-6 may be reduced accordingly.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2001-23654493 CCR 2001-236 doe
RESOLUTION NO. 2001-236
WALNUT GROVE POND ADDITION (94100)
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. 95-6:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $1,000
$5,000 $3,000
FURTHER BE IT RESOLVED that the financial guarantee for the above items remain at $1,000 cash with
the required financial guarantee being reduced from $5,000 to $3,000. Letter of Credit No. 95-6 may be
reduced accordingly.
FURTHER BE IT RESOLVED that the street constriction is accepted for continual maintenance as of
June 12, 2001.
Adopted by the City Council on June 12, 2001.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2001-23654493 CCR 2001-236 doe