HomeMy WebLinkAboutCity Council Resolution 1998-137RESOLUTION NO. 98 - 137
REDUCING REQUIRED FINANCIAL GUARANTEE
HOLLY CREEK 5TH ADDITION (96005)
WHEREAS, in accordance with the development contract dated April 1, 1997 Craig Scherber and Associates,
developer of Holly Creek 5"' Addition (96005), 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 $97,906 to
$93,202 to reflect the completed work. Letter of Credit No. 2041 may be reduced accordingly.
C Documents and Settnig,,esuigeiLocal Settmg, TempVCCR 1998-13-W-3 CCR 1998-13- doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 112,828
$ 23,129
Sanitary Sewer
54,656
10,931
Watermain
76,811
15,3162
Storm Sewer
53,471
10,694
Boulevard and Drainage Swale Sod
7,800
7,800
Landscaping
12,500
12,500
Wetland Buffer Monuments (42 x 20)
840
-0-
N[-]RP Pond Constriction
3,723
-0-
Street Signs (4 x 200)
800
-0-
Mitigation Pond
2,800
2,800
Site Grading and Drainage Improvements
124,547
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
3,400
-0-
Design, Administration, Inspection, As-Builts
54,501
9,986
TOTAL
$ 508,677
$ 93,202
That the required financial guarantee for the above items be reduced as detailed above from $97,906 to
$93,202 to reflect the completed work. Letter of Credit No. 2041 may be reduced accordingly.
C Documents and Settnig,,esuigeiLocal Settmg, TempVCCR 1998-13-W-3 CCR 1998-13- doe
RESOLUTION NO. 98-137
HOLLY CREEK 5TH ADDITION (96005)
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
Letter of Credit No. 623884: $ 27,500 $ 27,500
Adopted by the City Council on March 4, 1998.
C Documents and Settnig,,esuigeiLocal Settmg, TempVCCR 1998-13-W-3 CCR 1998-13- doe