HomeMy WebLinkAboutCity Council Resolution 2001-508CITY OF PLYMOUTH
RESOLUTION NO. 2001-508
REDUCING REQUIRED FINANCIAL GUARANTEE
HILLTOP OF PLYMOUTH ADDITION (20003)
WHEREAS, in accordance with the development contract dated June 28, 2000, Alan Chazin Homes, Inc.,
developer of Hilltop of Plymouth Addition (20003), 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 $54,224 to
$50,976 to reflect the completed work. Letter of Credit No. 1184 may be reduced accordingly.
('.AUocnmeaits acid Settuig, anfieese,Local Setting, TempVC('R ?001 -?08 54884 CCR?001-?08.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 58,200
$ 11,640
Sanitary Sewer
31,100
6,220
Watermain
3 8,115
7,623
Storm Sewer
59,720
11,944
Boulevard and Drainage Swale Sod
3,800
3,800
Retaining Wall A
36,000
-0-
Retaining Wall B
14,000
-0-
Mitigation Pond Constriction
-0-
-0-
N[-]RP Pond Constriction
7,000
-0-
Street Signs (lx200)
200
-0-
Site Grading and Drainage Improvements
43,000
2,000
Park and Trail Improvements
5,060
1,012
Setting Iron Monuments
1,275
1,275
Design, Administration, Inspection, As-Builts
35,696
5,462
TOTAL
$ 333,166
$ 50,976
That the required financial guarantee for the above items be reduced as detailed above from $54,224 to
$50,976 to reflect the completed work. Letter of Credit No. 1184 may be reduced accordingly.
('.AUocnmeaits acid Settuig, anfieese,Local Setting, TempVC('R ?001 -?08 54884 CCR?001-?08.doc
RESOLUTION NO. 2001-508
Hilltop of Plymouth Addition (20003)
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:
Letter of Credit No. 1183:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 6,800 $ 3,400
FURTHER BE IT RESOLVED that the financial guarantee for the above items remain at $1,000 cash with
the required financial guarantee being reduced from $6,800 to $3,400. Letter of Credit No. 1183 may be
reduced accordingly.
Adopted by the City Council on November 27, 2001.
('.AUocnmeaits acid Settuig, anfieese,Local Setting, TempVC('R ?001 -?08 54884 CCR?001-?08.doc