HomeMy WebLinkAboutCity Council Resolution 2001-319RESOLUTION NO. 2001-319
REDUCING REQUIRED FINANCIAL GUARANTEE
HOLLY CREEK 4TH ADDITION (95027)
WHEREAS, in accordance with the development contract dated November 21, 1995, Scherber Partnership
Properties, developer of Holly Creek 4"' Addition (95027), 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 $22,029 to
$4,256 to reflect the completed work. Letter of Credit No. 626234 may be reduced accordingly.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2001-31954639 CCR 2001-319 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 17,009
$ -0-
Sanitary Sewer
9,583
-0-
Watermain
11,106
-0-
Storm Sewer
2,846
-0-
Boulevard and Drainage Swale Sod
1,800
-0-
Mitigation Pond Constriction
3,800
3,800
N [-]RP Pond Constriction
-0-
-0-
Street Signs (1 x 200)
200
-0-
Site Grading and Drainage Improvements
26,028
-0-
Park and Trail Improvements
5,060
-0-
Setting Iron Monuments
900
-0-
Design, Administration, Inspection, As-Builts
9,400
456
TOTAL
$ 87,731
$ 4,256
That the required financial guarantee for the above items be reduced as detailed above from $22,029 to
$4,256 to reflect the completed work. Letter of Credit No. 626234 may be reduced accordingly.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2001-31954639 CCR 2001-319 doe
RESOLUTION NO. 2001 -
HOLLY CREEK 4TH ADDITION (95027)
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. 624502:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 5,750 $ 5,750
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, TempVC(R 2001-31954639 CCR 2001-319 doe