HomeMy WebLinkAboutCity Council Resolution 1999-059RESOLUTION NO. 99-59
REDUCING REQUIRED FINANCIAL GUARANTEE
WESTBRANCH 3Rn ADDITION (94046)
WHEREAS, in accordance with the development contract dated October 24, 1994, U.S. Homes Corporation,
developer of Westbranch 3ra Addition (94046), 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 $214,648 to
$32,480 to reflect the completed work. Letter of Credit No. FGAC-95106 may be reduced accordingly.
C Documents and Settnig,,seng(kdd Local Settuig, TempVCCR 1999-059_ 9253CCR 1999-059 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ -0-
$ -0-
Sanitary Sewer
-0-
-0-
Watermain
-0-
-0-
Storm Sewer
-0-
-0-
Boulevard and Drainage Swale Sod
12,400
4,000
Mitigation Pond Constriction
-0-
-0-
N [-]RP Pond Constriction
-0-
-0-
Street Signs (7 x 200)
1,400
-0-
Site Grading and Drainage Improvements
173,200
25,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
4,650
-0-
Design, Administration, Inspection, As-Builts
22,998
3,480
TOTAL
$ 214,648
$ 32,480
That the required financial guarantee for the above items be reduced as detailed above from $214,648 to
$32,480 to reflect the completed work. Letter of Credit No. FGAC-95106 may be reduced accordingly.
C Documents and Settnig,,seng(kdd Local Settuig, TempVCCR 1999-059_ 9253CCR 1999-059 doe
RESOLUTION NO. 99-59
WESTBRANCH 3RD ADDITION (94046)
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 (included in Westbranch 2" a
Addition (94045))
Cash:
Financial Guarantee:
Adopted by the City Council on February 2, 1999.
ORIGINAL NEW
AMOUNT AMOUNT
$ -0- $-0-
$-0-
-0-
$-0- $ -0-
C Documents and Settnig,,seng(kdd Local Settuig, TempVCCR 1999-059_ 9253CCR 1999-059 doe