HomeMy WebLinkAboutCity Council Resolution 1998-457RESOLUTION NO. 98 - 457
REDUCING REQUIRED FINANCIAL GUARANTEE
ANNAPOLIS DEPOT ADDITION (96153)
WHEREAS, in accordance with the development contract dated November 7, 1996, Annapolis L. L. P.,
developer of Annapolis Depot Addition (96153), 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 $479,245 to
$77,759 to reflect the completed work. Letter of Credit No. 191 may be reduced accordingly.
C Documents and Settnig, esuigei,Local Setting, TempVC(R 1998-45- 58893CCR 1998-45- doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 183,175
$ 36,635
Sanitary Sewer
14,954
2,991
Traffic Signal and Controls
120,000
24,000
Storm Sewer
29,008
5,802
Boulevard and Drainage Swale Sod
4,400
-0-
Mitigation Pond Constriction
-0-
-0-
N[-]RP Pond Constriction
35,298
-0-
Street Signs (200)
-0-
-0-
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
41,062
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
51,348
8,331
TOTAL
$ 479,245
$ 77,759
That the required financial guarantee for the above items be reduced as detailed above from $479,245 to
$77,759 to reflect the completed work. Letter of Credit No. 191 may be reduced accordingly.
C Documents and Settnig, esuigei,Local Setting, TempVC(R 1998-45- 58893CCR 1998-45- doe
RESOLUTION NO. 98-457
ANNAPOLIS DEPOT ADDITION (96153)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per Section
8.1 of the approved development contract reduced as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Financial Guarantee
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ -0-
$ 1,000 $ -0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
to $0 (zero) with the required financial guarantee being reduced from $1,000 to $0 (zero). The required
financial guarantee may be reduced accordingly.
Adopted by the City Council on August 5, 1998.
C Documents and Settnig, esuigei,Local Setting, TempVC(R 1998-45- 58893CCR 1998-45- doe