HomeMy WebLinkAboutCity Council Resolution 1998-702RESOLUTION NO. 98 -702
REDUCING REQUIRED FINANCIAL GUARANTEE
NANTERRE ADDITION (94093)
WHEREAS, in accordance with the development contract dated October 13, 1995, Weston Corporation,
developer of Nanterre Addition (94093), 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 remain as follows:
ITEM ORIGINAL NEW
AMOUNT AMOUNT
Street Constriction (excluding State
Aid Proj.)
$132,703
$ -0-
Sanitary Sewer
200,629
-0-
Watermain
140,876
-0-
Storm Sewer
76,230
-0-
Boulevard and Drainage Swale Sod
9,000
3,800
Mitigation Pond Constriction
-0-
-0-
N[_]RP Pond Constriction
20,000
5,000
Street Signs (6 x 200)
1,200
-0-
Site Grading and Drainage Improvements
(excluding State Aid Proj.)
384,250
76,850
Park and Trail Improvements
(excluding State Aid Proj.)
10,179
-0-
Setting Iron Monuments
3,600
-0-
Design, Administration, Inspection, As-Builts
117,440
10,278
Wetland Mitigation and Performance
Monitoring
13,400
13,400
TOTAL
$1,109,507
$109,328
That the required financial guarantee for the above items remain as detailed above in the amount of $109,328
to reflect the completed work. Letter of Credit No. 15297 must remain accordingly.
C Documents and Settnig,,esuigeiLocal Settmg, TempVC(R 1998--0259141 CCR 1998--02 doe
RESOLUTION NO. 98 -
NANTERRE ADDITION (94093)
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:
Letter of Credit No. 1611 *:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $1,000
$95,000 $45,000
FURTHER BE IT RESOLVED that the financial guarantee for tree preservation be reduced from $5,000 to
$0 (zero). Since Letter of Credit No. 1611 includes $5,000 for tree preservation it may be reduced from
$50,000 to $45,000.
*Letter of Credit No. 1611 includes $5,000 for tree preservation and is currently in the amount
of $50,000.
Adopted by the City Council on November 18, 1998.
C Documents and Settnig,,esuigeiLocal Settmg, TempVC(R 1998--0259141 CCR 1998--02 doe