HomeMy WebLinkAboutCity Council Resolution 1998-602RESOLUTION NO. 98-602
REDUCING REQUIRED FINANCIAL GUARANTEE
FERNBROOK WOODS 3D ADDITION (96057)
WHEREAS, in accordance with the development contract dated June 27, 1996, Marvin H. Anderson
Constriction Company, developer of Fernbrook Woods -1 Addition (96057), 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 $22,156 to
$3,248 to reflect the completed work. The required financial guarantee in this case cash may be reduced
accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVC(R 1998-60259039 CCR 1998-602 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 79,409
$ -0-
Sanitary Sewer
39,870
-0-
Watermain
41,688
-0-
Storm Sewer
33,566
-0-
Boulevard and Drainage Swale Sod
4,800
2,900
Mitigation Pond Constriction
-0-
-0-
N [-]RP Pond Constriction
-0-
-0-
Street Signs (4 x 200)
800
-0-
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
3,850
-0-
Setting Iron Monuments
2,000
-0-
Design, Administration, Inspection, As-Builts
24,718
348
TOTAL
$ 230,701
$ 3,248
That the required financial guarantee for the above items be reduced as detailed above from $22,156 to
$3,248 to reflect the completed work. The required financial guarantee in this case cash may be reduced
accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVC(R 1998-60259039 CCR 1998-602 doe
RESOLUTION NO. 98-602
FERNBROOK WOODS 3RD ADDITION (96057)
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 (Financial guarantee requirements are
included in Fernbrook Woods 2"a Addition (94018))
Cash:
Financial Guarantee:
ORIGINAL NEW
AMOUNT AMOUNT
$ -0- $-0-
$-0-
-0-
$-0- $ -0-
FURTHER BE IT RESOLVED that the street constriction is accepted for continual maintenance as of
October 7, 1998 subject to the one year guarantee by the Developer per Maintenance Bond No. 222898
issued by Hartford Fire Insurance Company.
Adopted by the City Council on October 7, 1998.
C Documents and Settnig,,esvigeiLocal Settmg, TempVC(R 1998-60259039 CCR 1998-602 doe