HomeMy WebLinkAboutCity Council Resolution 2001-317RESOLUTION NO. 2001-317
REDUCING REQUIRED FINANCIAL GUARANTEE
HOLLY CREEK 2ND ADDITION (93096)
WHEREAS, in accordance with the development contract dated September 20, 1993, Scherber Partnership
Properties, developer of Holly Creek 2nd Addition (93096), 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
$37,455
$-0-
Sanitary Sewer
53,220
-0-
Watermain
52,519
-0-
Storm Sewer
28,327
-0-
Boulevard and Drainage Swale Sod
6,000
-0-
Mitigation Pond Constriction
39,600
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
132,610
-0-
Park and Trail Improvements
13,260
-0-
Setting Iron Monuments
2,500
-0-
Design, Administration, Inspection, As-Builts
43,907
-0-
TOTAL
$409,798
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $10,322 to $0
(zero) to reflect the completed work. Letter of Credit No. 624460 may be reduced accordingly and will be
released by the Finance Department.
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RESOLUTION NO. 2001-317
HOLLY CREEK 2ND ADDITION (93096)
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. 624478:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $1,000
$13,744 $13,744
FURTHER BE IT RESOLVED that the street constriction is accepted for continual maintenance as of
July 24, 2001.
Adopted by the City Council on July 24, 2001.
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