HomeMy WebLinkAboutCity Council Resolution 1998-634RESOLUTION NO. 98-634
REDUCING REQUIRED FINANCIAL GUARANTEE
PLYMOUTH TECHNOLOGY PARK (91031)
WHEREAS, in accordance with the development contract dated December 11, 1997, Plymouth Partners II,
developer of Plymouth Technology Park (91031), 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 $24,416 to
$16,016 to reflect the completed work. Letter of Credit No. 231 may be reduced accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-634590-1 CCR 1998-634 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 69,179
$ -0-
Sanitary Sewer
9,950
-0-
Watermain
17,876
-0-
Storm Sewer
41,220
-0-
Boulevard and Drainage Swale Sod
2,999
2,000
Mitigation Pond Constriction
-0-
-0-
Treatment Pond Constriction
24,000
4,800
Street Signs (1 x $200)
200
-0-
Site Grading and Drainage Improvements
88,680
7,500
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
30,492
1,716
TOTAL
$ 284,596
$ 16,016
That the required financial guarantee for the above items be reduced as detailed above from $24,416 to
$16,016 to reflect the completed work. Letter of Credit No. 231 may be reduced accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-634590-1 CCR 1998-634 doe
RESOLUTION NO. 98-634
PLYMOUTH TECHNOLOGY PARK (91031)
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. 1087 96: $ 8,395 $ 8,395
Adopted by the City Council on October 21, 1998.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-634590-1 CCR 1998-634 doe