HomeMy WebLinkAboutCity Council Resolution 1999-529RESOLUTION NO. 99-529
REDUCING REQUIRED FINANCIAL GUARANTEE
FERNDALE PLACE ADDITION (96038)
WHEREAS, in accordance with the development contract dated October 16, 1997, Henry J. Lazniarz and
Gina M. Lazniarz, developer of Ferndale Place Addition (96038), 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 $113,766 to
$41,396 to reflect the completed work. Letter of Credit No. 30106-B may be reduced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Driveway Construction
$ 15,585
$ 3,117
Sanitary Sewer
14,967
2,993
Watermain
17,550
3,510
Storm Sewer
10,705
2,141
Boulevard and Drainage Swale Sod
800
800
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
18,570
14,000
Street Signs (0)
-0-
-0-
Site Grading and Drainage Improvements
23,000
10,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
400
400
Design, Administration, Inspection, As-Builts
12,189
4,435
TOTAL
$ 113,766
$ 41,396
That the required financial guarantee for the above items be reduced as detailed above from $113,766 to
$41,396 to reflect the completed work. Letter of Credit No. 30106-B may be reduced accordingly.
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RESOLUTION NO. 99-529
FERNDALE PLACE ADDITION (96038)
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 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
Letter of Credit No. 30106-A: $ 1,600 $ 1,600
Adopted by the City Council on December 21. 1999.
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