HomeMy WebLinkAboutCity Council Resolution 1999-233RESOLUTION NO. 99-233
REDUCING REQUIRED FINANCIAL GUARANTEE
HEATHER RUN 2ND ADDITION (94016)
WHEREAS, in accordance with the development contract dated March 4, 1994, Lundgren Bros.
Construction, Inc., developer of Heather Run 2nd Addition (94016), 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:
ITEM
ORIGINAL
NEW
AMOUNT
AMOUNT
Street Construction
$127,000
$-0-
Sanitary Sewer
36,000
-0-
Watermain
67,000
-0-
Storm Sewer
60,000
-0-
Boulevard and Drainage Swale Sod
8,000
-0-
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
46,000
-0-
Street Signs (1 x 200)
200
-0-
Parking Lot for Park
6,000
-0-
Site Grading and Drainage Improvements
105,000
-0-
Park and Trail Improvements
13,500
-0-
Setting Iron Monuments
3,000
-0-
Design, Administration, Inspection, As-Builts
56,604
-0-
TOTAL
$528,304
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $672 to $0 (zero)
to reflect the completed work. Letter of Credit No. 28466-D may be reduced accordingly and will be released
by the Finance Department.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-233_59428\CCR 1999-233.doc
RESOLUTION NO. 99-233
HEATHER RUN 2ND ADDITION (94016)
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. 28466-13:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $-0-
$20,000 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
to $0 (zero) and will be released by the Finance Department.
Adopted by the City Council on May 18, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-233_59428\CCR 1999-233.doc