HomeMy WebLinkAboutCity Council Resolution 1998-707RESOLUTION NO. 98 - 707
REDUCING REQUIRED FINANCIAL GUARANTEE
BRIDGID GLEN ADDITION (98063)
WHEREAS, in accordance with the development contract dated August 20, 1998, JANCO, Inc., developer
of Bridgid Glen Addition (98063), 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 $268,797 to
$56,652 to reflect the completed work. The required financial guarantee may be reduced accordingly.
C Documents and Settnig, esuigei ,Local Setting, TempVC(R 1998--0- 59146 CCR 1998--0- doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 56,230
$ 16,869
Sanitary Sewer
39,557
7,911
Watermain
53,180
10,636
Storm Sewer
21,580
4,316
Boulevard and Drainage Swale Sod
3,400
3,400
Mitigation Pond Constriction
-0-
-0-
N[_]RP Pond Constriction
6,000
1,200
Street Signs (1 x 200)
200
200
Site Grading and Drainage Improvements
58,800
5,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,050
1,050
Design, Administration, Inspection, As-Builts
28,800
6070
TOTAL
$ 268,797
$ 56,652
That the required financial guarantee for the above items be reduced as detailed above from $268,797 to
$56,652 to reflect the completed work. The required financial guarantee may be reduced accordingly.
C Documents and Settnig, esuigei ,Local Setting, TempVC(R 1998--0- 59146 CCR 1998--0- doe
RESOLUTION NO. 98-
BRIDGID GLEN ADDITION (98063)
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. 98-07: $ 16,100 $ 16,100
Adopted by the City Council on November 18, 1998.
C Documents and Settnig, esuigei ,Local Setting, TempVC(R 1998--0- 59146 CCR 1998--0- doe