HomeMy WebLinkAboutCity Council Resolution 1998-704RESOLUTION NO. 98 - 704
REDUCING REQUIRED FINANCIAL GUARANTEE
SUGAR HILLS 4TH ADDITION (95090)
WHEREAS, in accordance with the development contract dated May 16, 1996, Eugene R. Forbragd, Darlene
R. Forbragd, Martin H. Harstad and Janice E. Harstad, developers of Sugar Hills 4"' Addition (95090), have
agreed to install certain improvements for said development; and
WHEREAS, the developers have completed a portion of the street, utility and site grading as noted below;
and
WHEREAS, the developers have 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 $2,128 to $480 to
reflect the completed work. Letter of Credit No. 13368 may be reduced accordingly.
C Documents and Settnig,,esuigeiLocal Settmg, TempVC(R 1998--0459143 CCR 1998--04 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 63,000
$ -0-
Sanitary Sewer
33,000
-0-
Watermain
34,000
-0-
Storm Sewer
16,000
-0-
Boulevard and Drainage Swale Sod
4,400
400
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
5,000
-0-
Street Signs (lx200)
200
-0-
Site Grading and Drainage Improvements
15,000
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,500
-0-
Design, Administration, Inspection, As-Builts
20,652
80
TOTAL
$ 192,752
$ 480
That the required financial guarantee for the above items be reduced as detailed above from $2,128 to $480 to
reflect the completed work. Letter of Credit No. 13368 may be reduced accordingly.
C Documents and Settnig,,esuigeiLocal Settmg, TempVC(R 1998--0459143 CCR 1998--04 doe
RESOLUTION NO. 98 -
SUGAR HILLS 4TH ADDITION (95090)
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. 13369: $ 8,800 $ 4,000
Adopted by the City Council on November 18, 1998.
C Documents and Settnig,,esuigeiLocal Settmg, TempVC(R 1998--0459143 CCR 1998--04 doe