HomeMy WebLinkAboutCity Council Resolution 2001-509CITY OF PLYMOUTH
RESOLUTION NO. 2001-509
REDUCING REQUIRED FINANCIAL GUARANTEE
WAYZATA FARMS ADDITION (20100)
WHEREAS, in accordance with the development contract dated October 26, 2000, Paragon Designers and
Builders Corporation, developer of Wayzata Farms Addition (20100), 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 $11,508 to
$4,144 to reflect the completed work. Letter of Credit No. 420 may be reduced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 55,902
$ -0-
Sanitary Sewer
30,777
-0-
Watermain
26,216
-0-
Storm Sewer
69,559
-0-
Boulevard and Drainage Swale Sod
1,800
1,200
Mitigation Pond Constriction
-0-
-0-
N[-]RP Pond Constriction
8,000
-0-
Street Signs (200)
200
-0-
Site Grading and Drainage Improvements
33,377
2,500
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,000
-0-
Design, Administration, Inspection, As-Builts
27,220
444
TOTAL
$ 254,051
$ 4,144
That the required financial guarantee for the above items be reduced as detailed above from $11,508 to
$4,144 to reflect the completed work. Letter of Credit No. 420 may be reduced accordingly.
('.AUocnmeaits acid Settuig, anfieese,Local Setting, TempVC('R ?001 -?09 54885CCR2001-509.doc
RESOLUTION NO. 2001-509
WAYZATA FARMS ADDITION (20100)
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:
Financial Guarantee (cash):
Adopted by the City Council on November 27, 2001.
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 3,500 $ 3,500
('.AUocnmeaits acid Settuig, anfieese,Local Setting, TempVC('R ?001 -?09 54885CCR2001-509.doc