HomeMy WebLinkAboutCity Council Resolution 1999-083RESOLUTION NO. 99-83
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 $71,971 to
$36,512 to reflect the completed work. Letter of Credit No. 911100000185 may be reduced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 51,500
$ 10,300
Sanitary Sewer
30,700
-0-
Watermain
21,900
-0-
Storm Sewer
31,800
-0-
Boulevard and Drainage Swale Sod
9,600
9,600
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
10,200
2,500
Street Signs (1 X 200)
200
200
Site Grading and Drainage Improvements
123,900
10,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
33,576
3,912
TOTAL
$ 313,376
$ 36,512
That the required financial guarantee for the above items be reduced as detailed above from $71,971 to
$36,512 to reflect the completed work. Letter of Credit No. 911100000185 may be reduced accordingly.
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RESOLUTION NO. 99-83
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:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 911100000182:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 13,610 $ 13,610
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction is accepted
for continual maintenance as of February 16, 1999 subject to the two year guarantee by the Developer per
Maintenance Bond No. 2651767 provided by the Great American Insurance Company.
Adopted by the City Council on February 16, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-083_59278\CCR 1999-083.doc