HomeMy WebLinkAboutCity Council Resolution 1999-530RESOLUTION NO. 99-530
REDUCING REQUIRED FINANCIAL GUARANTEE
WESTBRANCH 4TH ADDITION (95139)
WHEREAS, in accordance with the development contract dated October 8, 1997, U.S. Home Corporation,
developer of Westbranch 4th Addition (95139), 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 $26,813 to
$19,600 to reflect the completed work. Letter of Credit No. FGAC-97137 may be reduced accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-530_59729ACCR 1999-530.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 63,300
$ -0-
Sanitary Sewer
70,400
-0-
Watermain
48,200
-0-
Storm Sewer
31,500
-0-
Boulevard and Drainage Swale Sod
3,800
-0-
Mitigation Pond Construction
2,000
2,000
NURP Pond Construction
2,900
-0-
Street Signs (2x200)
400
-0-
Site Grading and Drainage Improvements
95,700
15,500
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
900
-0-
Design, Administration, Inspection, As-Builts
38,292
2,100
TOTAL
$ 357,392
$ 19,600
That the required financial guarantee for the above items be reduced as detailed above from $26,813 to
$19,600 to reflect the completed work. Letter of Credit No. FGAC-97137 may be reduced accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-530_59729ACCR 1999-530.doc
RESOLUTION NO. 99-530
WESTBRANCH 4TH ADDITION (95139)
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
Letter of Credit No. FGAC-97127: $ 10,500 $ 8,000
Adopted by the City Council on December 21, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-530_59729ACCR 1999-530.doc