HomeMy WebLinkAboutCity Council Resolution 1999-464RESOLUTION NO. 99-464
REDUCING REQUIRED FINANCIAL GUARANTEE
NORTH COUNTRY ESTATES (97023)
WHEREAS, in accordance with the development contract dated December 4, 1997, North Country
Properties, Inc., developer of North Country Estates (97023), 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 $10,080 to
$5,264 to reflect the completed work. Letter of Credit No. 730 may be reduced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Restoration
$ 1,000
$ -0-
Sanitary Sewer Service
5,250
-0-
Watermain System
33,150
-0-
Storm Sewer System
-0-
-0-
Boulevard and Drainage Swale Sod
1,000
700
Mitigation Pond Construction
-0-
-0-
N URP Pond Construction
-0-
-0-
Street Signs (200)
-0-
-0-
Site Grading and Drainage Improvements
8,000
4,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
300
-0-
Design, Administration, Inspection, As-Builts
5,844
564
TOTAL
$ 54,544
$ 5,264
That the required financial guarantee for the above items be reduced as detailed above from $10,080 to
$5,264 to reflect the completed work. Letter of Credit No. 730 may be reduced accordingly.
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RESOLUTION NO. 99-464
NORTH COUNTRY ESTATES (97023)
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
Financial Guarantee: $ -0- $ -0-
Adopted by the City Council on November 2, 1999.
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