HomeMy WebLinkAboutCity Council Resolution 1999-528RESOLUTION NO. 99-528
REDUCING REQUIRED FINANCIAL GUARANTEE
WESTBRANCH 3RD ADDITION (94046)
WHEREAS, in accordance with the development contract dated October 24, 1994, U.S. Homes Corporation,
developer of Westbranch 3rd 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 $32,480 to
$6,272 to reflect the completed work. Letter of Credit No. FGAC-95106 may be reduced accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-528_59727\CCR 1999-528.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ -0-
$ -0-
Sanitary Sewer
-0-
-0-
Watermain
-0-
-0-
Storm Sewer
-0-
-0-
Boulevard and Drainage Swale Sod
12,400
600
Mitigation Pond Construction
-0-
-0-
N URP Pond Construction
-0-
-0-
Street Signs (7 x 200)
1,400
-0-
Site Grading and Drainage Improvements
173,200
5,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
4,650
-0-
Design, Administration, Inspection, As-Builts
22,998
672
TOTAL
$ 214,648
$ 6,272
That the required financial guarantee for the above items be reduced as detailed above from $32,480 to
$6,272 to reflect the completed work. Letter of Credit No. FGAC-95106 may be reduced accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-528_59727\CCR 1999-528.doc
RESOLUTION NO. 99-528
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" d
Addition (94045))
Cash:
Financial Guarantee:
Adopted by the City Council on December 21, 1999.
ORIGINAL NEW
AMOUNT AMOUNT
$ -0- $-0-
$-0-
-0-
$-0- $-0-
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-528_59727\CCR 1999-528.doc