HomeMy WebLinkAboutCity Council Resolution 2001-456RESOLUTION NO. 2001-456
REDUCING REQUIRED FINANCIAL GUARANTEE
SEVEN GREENS (2001031)
WHEREAS, in accordance with the development contract dated September 26, 2001, Swan Development
LLC, developer of Seven Greens (2001031), 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 $1,845,890 to
$1,571,403 to reflect the completed work. The Financial Guarantee may be reduced accordingly.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2001-45654-6 CCR 2001-456 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 407,050
$ 407,050
Sanitary Sewer
223,087
223,087
Watermain
171,975
171,975
Watermain System Vicksburg Lane
50,550
50,550
Storm Sewer
183,948
183,948
Boulevard and Drainage Swale Sod
9,000
9,000
N[ -]RP Pond Constriction
20,881
10,440
Mitigation Pond Constriction
24,975
24,975
Street Signs (7 x 200)
1,400
1,400
Concrete Sidewalk
183,200
183,200
Park and Trail Improvements
30,855
30,855
Site Grading and Drainage Improvements
335,195
100,558
Setting Iron Monuments
6,000
6,000
Design, Administration, Inspection, As-Builts
191,708
168,365
TOTAL
$ 1,845,890
$1,571,403
That the required financial guarantee for the above items be reduced as detailed above from $1,845,890 to
$1,571,403 to reflect the completed work. The Financial Guarantee may be reduced accordingly.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2001-45654-6 CCR 2001-456 doe
RESOLUTION NO. 2001-456
SEVEN GREENS (2001031)
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 (see Grading Permit for Financial
Guarantee Requirements)
Cash: $ -0- $ -0-
Financial Guarantee: $ -0- $ -0-
Adopted by the City Council on October 23, 2001.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2001-45654-6 CCR 2001-456 doe