HomeMy WebLinkAboutCity Council Resolution 1999-204RESOLUTION NO. 99-204
REDUCING REQUIRED FINANCIAL GUARANTEE
WESTBRANCH ADDITION FKA PLYMOUTH CREEK HEIGHTS ADDITION (92115)
WHEREAS, in accordance with the development contract dated October 11, 1993, U.S. Home Corporation,
developer of Plymouth Creek Heights Addition (92115), 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 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:
ITEM
ORIGINAL
NEW
AMOUNT
AMOUNT
Street Construction (except Dunkirk Lane)
$177,000
$-0-
Sanitary Sewer
115,000
-0-
Watermain
81,000
-0-
Storm Sewer
81,000
-0-
Boulevard and Drainage Swale Sod
15,000
-0-
Mitigation Pond Construction
4,865
-0-
Sediment Pond Construction
1,589
-0-
Street Signs (5 x 200)
1,000
-0-
Site Grading and Drainage Improvements
149,546
-0-
Park and Trail Improvements
7,000
-0-
Setting Iron Monuments
8,347
-0-
Design, Administration, Inspection, As-Builts
76,961
-0-
TOTAL
$718,308
$-0-
That the financial guarantee required for the above items be reduced as detailed above from $24,877 to $0
(zero) to reflect the completed work. Letter of Credit No. FGAC-93077 may be reduced accordingly and will
be released by the Finance Department.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-204 59399ACCR 1999-204.doc
RESOLUTION NO. 99-204
WESTBRANCH ADDITION FKA PLYMOUTH CREEK HEIGHTS ADDITION (92115)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per Section
8.1 of the approved development contract be reduced as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. FGAC-93054:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$37,250 $3,000
FURTHER BE IT RESOLVED that the financial guarantee for the above items remain at $1,000 cash with
the required financial guarantee being reduced from $18,000 to $3,000. Letter of Credit No. FGAC 93054
may be reduced accordingly.
Adopted by the City Council on May 4, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-204 59399ACCR 1999-204.doc