HomeMy WebLinkAboutCity Council Resolution 1998-043RESOLUTION NO. 98 - 43
REDUCING REQUIRED FINANCIAL GUARANTEE
PLUM TREE 3" ADDITION (97034)
WHEREAS, in accordance with the development contract dated May 8, 1997, Lundgren Bros. Constriction,
Inc., developer of Plum Tree 3'd Addition (97034), 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 $303,475 to
$136,595 to reflect the completed work. Letter of Credit No. 17593 may be reduced accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-043584-9 CCR 1998-043 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 151,000
$ 30,200
Sanitary Sewer
127,000
25,400
Watermain
67,000
13,400
Storm Sewer
102,000
20,400
Boulevard and Drainage Swale Sod
8,000
8,000
Mitigation Pond Constriction
-0-
-0-
Wetland Buffer Monuments
460
60
N[ -]RP Pond Constriction
10,000
500
Street Signs (4 x 200)
800
800
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
-0-
-0-
Sidewalk
22,000
22,000
Setting Iron Monuments
2,400
1,200
Design, Administration, Inspection, As-Builts
58,879
14,635
TOTAL
$ 549,539
$ 136,595
That the required financial guarantee for the above items be reduced as detailed above from $303,475 to
$136,595 to reflect the completed work. Letter of Credit No. 17593 may be reduced accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-043584-9 CCR 1998-043 doe
RESOLUTION NO. 98-43
PLUM TREE 3RD ADDITION (97034)
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 Plum Tree 2"a Addition (94090)]
Cash: $ -0- $ -0-
Financial Guarantee: $ -0- $ -0-
Adopted by the City Council on January 21, 1998.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-043584-9 CCR 1998-043 doe