HomeMy WebLinkAboutCity Council Resolution 2001-489RESOLUTION NO. 2001-489
REDUCING REQUIRED FINANCIAL GUARANTEE
GEM COURT (99017)
WHEREAS, in accordance with the development contract dated July 27, 1999, Joseph and Sonia and
Krichten and Mark and Isabella Stipankov, developers of Gem Court (99017), have 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 $21,693 to
$14,742 to reflect the completed work. The required financial guarantee, in this case cash, may be reduced
accordingly.
* The Developer has requested that the cash deposit in the amount of $14,742 be used in lieu of the required
maintenance bond.
C Documents and Settnig, anfieese,Local Setting, TempVC(R 2001-489 54865CCR 2001-489 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 21,680
$ 4,336*
Sanitary Sewer
16,495
3,299*
Watermain
16,091
3,218
Storm Sewer
19,444
3,889*
Boulevard and Drainage Swale Sod
1,200
-0-
Driveway Closing -Co. Rd. 101
1,100
-0-
Constriction of New Driveway for Lot 6
500
-0-
N[-]RP Pond Constriction
3,500
-0-
Street Signs (200)
200
-0-
Site Grading and Drainage Improvements
8,090
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,000
-0-
Design, Administration, Inspection, As-Builts
10,716
-0-
TOTAL
$ 100,016
$ 14,742
That the required financial guarantee for the above items be reduced as detailed above from $21,693 to
$14,742 to reflect the completed work. The required financial guarantee, in this case cash, may be reduced
accordingly.
* The Developer has requested that the cash deposit in the amount of $14,742 be used in lieu of the required
maintenance bond.
C Documents and Settnig, anfieese,Local Setting, TempVC(R 2001-489 54865CCR 2001-489 doe
RESOLUTION NO. 2001-489
GEM COURT (99017)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per Section
8.1 of the approved development contract be reduced as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Financial Guarantee (Cash):
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $-0-
$2,600
-0-
$2,600 $ -0-
FURTHER BE IT RESOLVED that the financial guarantee for Maintenance of Sediment and Erosion
Control Plan be reduced from $1,000 cash to $0 (zero) with the cash financial guarantee being reduced from
$2,600 to $0 (zero). The financial guarantee may be reduced accordingly and will be released by the Finance
Department.
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, storm sewer, and street constriction is
accepted for continual maintenance as of November 13, 2001 subject to the one year guarantee by the
Developer per the cash deposit in lieu of a maintenance bond.
Adopted by the City Council on November 13, 2001.
C Documents and Settnig, anfieese,Local Setting, TempVC(R 2001-489 54865CCR 2001-489 doe