HomeMy WebLinkAboutCity Council Resolution 1998-529RESOLUTION NO. 98-529
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 remain as detailed above in the amount of $77,759.
Letter of Credit No. 191 must remain in effect accordingly.
* The Developer has requested that Letter of Credit No. 191 in the amount of $77,759 be used in lieu of
the required maintenance bond.
C Documents and Settnig, esvigei,Local Settuig, TempVCCR 1998-529 58965CCR 1998-529 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 remain as detailed above in the amount of $77,759.
Letter of Credit No. 191 must remain in effect accordingly.
* The Developer has requested that Letter of Credit No. 191 in the amount of $77,759 be used in lieu of
the required maintenance bond.
C Documents and Settnig, esvigei,Local Settuig, TempVCCR 1998-529 58965CCR 1998-529 doe
RESOLUTION NO. 98-529
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 remain 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 sanitary sewer, watermain, storm sewer, and street constriction is
accepted for continual maintenance as of September 2, 1998 subject to the two year guarantee by the
Developer per Letter of Credit No. 191.
Adopted by the City Council on September 2, 1998.
C Documents and Settnig, esvigei,Local Settuig, TempVCCR 1998-529 58965CCR 1998-529 doe