HomeMy WebLinkAboutCity Council Resolution 1998-085RESOLUTION NO. 98 - 85
REDUCING REQUIRED FINANCIAL GUARANTEE
PIKE LAKE WOODS ADDITION (97079)
WHEREAS, in accordance with the development contract dated December 4, 1997, Pike Lake Woods, Inc.,
developer of Pike Lake Woods Addition (97079), 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 $264,554 to
$65,052 to reflect the completed work. The required Financial Guarantee may be reduced accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-085W21 CCR 1998-085 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 68,399
$ 20,520
Sanitary Sewer
50,264
10,053
Watermain
36,105
7,221
Storm Sewer
27,201
5,440
Boulevard and Drainage Swale Sod
4,800
4,800
Mitigation Pond Constriction
-0-
-0-
N[-]RP Pond Constriction
7,086
1,417
Street Signs (1 x 200)
200
200
Site Grading and Drainage Improvements
40,154
8,031
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
2,000
400
Design, Administration, Inspection, As-Builts
28,345
6,970
TOTAL
$ 264,554
$ 65,052
That the required financial guarantee for the above items be reduced as detailed above from $264,554 to
$65,052 to reflect the completed work. The required Financial Guarantee may be reduced accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-085W21 CCR 1998-085 doe
RESOLUTION NO. 98-85
PIKE LAKE WOODS ADDITION (97079)
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
Cash: $ 1,000 $ 1,000
Financial Guarantee: $ 10,400 $ 10,400
Adopted by the City Council on February 4, 1998.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-085W21 CCR 1998-085 doe