HomeMy WebLinkAboutCity Council Resolution 2001-420RESOLUTION NO. 2001-420
REDUCING REQUIRED FINANCIAL GUARANTEE
PARKERS LAKE SHORES (20078)
WHEREAS, in accordance with the development contract dated May 23, 2001, Parkers Lake Shores LTD
Partnership, developer of Parkers Lake Shores (20078), 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 $177,438 to
$72,851 to reflect the completed work. Letter of Credit No. 1573 001 may be reduced accordingly.
C:\Documents and Settings\mfreese\Local Settings\Temp\CCR 2001-420_54740\CCR 2001-420.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$27,765
$14,765
Sanitary Sewer
13,582
2,716
Watermain
17,094
6,000
Storm Sewer
27,856
12,000
Boulevard and Drainage Swale Sod
2,000
2,000
Mitigation Pond Constriction
-0-
-0-
N[-]RP Pond Constriction
15,130
7,565
Street Signs (0 x 200)
-0-
-0-
Site Grading and Drainage Improvements
55,000
20,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
19,011
7,806
TOTAL
$177,438
$72,851
That the required financial guarantee for the above items be reduced as detailed above from $177,438 to
$72,851 to reflect the completed work. Letter of Credit No. 1573 001 may be reduced accordingly.
C:\Documents and Settings\mfreese\Local Settings\Temp\CCR 2001-420_54740\CCR 2001-420.doc
RESOLUTION NO. 2001-420
PARKERS LAKE SHORES (20078)
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:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $1,000 $1,000
Cash in lieu of letter of credit: $3,000 $3,000
Adopted by the City Council on October 9, 2001.
C:\Documents and Settings\mfreese\Local Settings\Temp\CCR 2001-420_54740\CCR 2001-420.doc