HomeMy WebLinkAboutCity Council Resolution 1998-706RESOLUTION NO. 98 - 706
REDUCING REQUIRED FINANCIAL GUARANTEE
SANDPIPER PONDS ADDITION (97089)
WHEREAS, in accordance with the development contract dated June 23, 1998, Brook Park Realty L.L.P.,
developer of Sandpiper Ponds Addition (97089), 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 $313,376 to
$71,971 to reflect the completed work. The required financial guarantee may be reduced accordingly.
C Documents and Settnig, esuigei,Local Setting, TempVC(R 1998--06 59145 CCR 1998--06 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 51,500
$ 10,300
Sanitary Sewer
30,700
6,140
Watermain
21,900
4,380
Storm Sewer
31,800
6,360
Boulevard and Drainage Swale Sod
9,600
9,600
Mitigation Pond Constriction
-0-
-0-
N[-]RP Pond Constriction
10,200
2,500
Street Signs (1 X 200)
200
200
Site Grading and Drainage Improvements
123,900
24,780
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
33,576
7,711
TOTAL
$ 313,376
$ 71,971
That the required financial guarantee for the above items be reduced as detailed above from $313,376 to
$71,971 to reflect the completed work. The required financial guarantee may be reduced accordingly.
C Documents and Settnig, esuigei,Local Setting, TempVC(R 1998--06 59145 CCR 1998--06 doe
RESOLUTION NO. 98 -
SANDPIPER PONDS ADDITION (97089)
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. 911100000182: $ 13,610 $ 13,610
Adopted by the City Council on November 18, 1998.
C Documents and Settnig, esuigei,Local Setting, TempVC(R 1998--06 59145 CCR 1998--06 doe