HomeMy WebLinkAboutCity Council Resolution 2001-318RESOLUTION NO. 2001-318
REDUCING REQUIRED FINANCIAL GUARANTEE
HOLLY CREEK 3RD ADDITION (94124)
WHEREAS, in accordance with the development contract dated November 7, 1994, Scherber Partnership
Properties, developer of Holly Creek 3rd Addition (94124), 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
$70,778
$-0-
Sanitary Sewer
54,284
-0-
Watermain
48,490
-0-
Storm Sewer
39,935
-0-
Boulevard and Drainage Swale Sod
4,800
-0-
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
-0-
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
64,690
-0-
Park and Trail Improvements
6,750
-0-
Setting Iron Monuments
2,400
-0-
Design, Administration, Inspection, As-Builts
35,103
-0-
TOTAL
$327,630
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $33,496 to $0
(zero) to reflect the completed work. Letter of Credit No. 624486 may be reduced accordingly and will be
released by the Finance Department.
C Documents and Settnig,unfiee,eLocal Settmg, TempVCCR 2001-31854638 CCR 2001-318 doe
RESOLUTION NO. 2001-318
HOLLY CREEK 3RD ADDITION (94124)
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. 624494:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $1,000
$9,500 $9,500
FURTHER BE IT RESOLVED that the street, storm sewer, sanitary sewer and watermain constriction is
accepted for continual maintenance as of July 24, 2001.
Adopted by the City Council on July 24, 2001.
C Documents and Settnig,unfiee,eLocal Settmg, TempVCCR 2001-31854638 CCR 2001-318 doe