HomeMy WebLinkAboutCity Council Resolution 2001-320RESOLUTION NO. 2001-320
REDUCING REQUIRED FINANCIAL GUARANTEE
HOLLY CREEK 5TH ADDITION (96005)
WHEREAS, in accordance with the development contract dated April 1, 1997 Craig Scherber and Associates,
developer of Holly Creek 5"' Addition (96005), 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 $93,202 to
$4,256 to reflect the completed work. Letter of Credit No. 2041 may be reduced accordingly.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2001-32054640 CCR 2001-320 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 112,828
$ -0-
Sanitary Sewer
54,656
-0-
Watermain
76,811
-0-
Storm Sewer
53,471
-0-
Boulevard and Drainage Swale Sod
7,800
1,000
Landscaping
12,500
-0-
Wetland Buffer Monuments (42 x 20)
840
-0-
N[-]RP Pond Constriction
3,723
-0-
Street Signs (4 x 200)
800
-0-
Mitigation Pond
2,800
2,800
Site Grading and Drainage Improvements
124,547
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
3,400
-0-
Design, Administration, Inspection, As-Builts
54,501
456
TOTAL
$ 508,677
$ 4,256
That the required financial guarantee for the above items be reduced as detailed above from $93,202 to
$4,256 to reflect the completed work. Letter of Credit No. 2041 may be reduced accordingly.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2001-32054640 CCR 2001-320 doe
RESOLUTION NO. 2001-320
HOLLY CREEK 5TH ADDITION (96005)
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. 623884:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 27,500 $ 27,500
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, TempVC(R 2001-32054640 CCR 2001-320 doe