HomeMy WebLinkAboutCity Council Resolution 2000-082RESOLUTION NO. 2000-082
REDUCING REQUIRED FINANCIAL GUARANTEE
FORSTER PRESERVE PLAT 2 (94057)
WHEREAS, in accordance with the development contract dated September 22, 1994, JANCO, Inc.,
developer of Forster Preserve Plat 2 (94057), 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 *
$172,230
$-0-
Sanitary Sewer
113,200
-0-
Watermain
93,725
-0-
Storm Sewer
58,145
-0-
Boulevard and Drainage Swale Sod
9,800
-0-
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
5,460
-0-
Street Signs (7 x 200)
1,400
-0-
Site Grading and Drainage Improvements
134,800
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
3,800
-0-
Design, Administration, Inspection, As-Builts
71,107
-0-
TOTAL
$663,667
$-0-
That the financial guarantee required for the above items be reduced as detailed above from $2,464 to $0
(zero) to reflect the completed work. Performance Bond No. 400 JM 2519 in the amount of $3,696 (2,464 x
150%) may be reduced to $0 (zero) and will be released by the Finance Department.
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RESOLUTION NO. 2000-082
FORSTER PRESERVE PLAT 2 (94057)
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 ORIGINAL NEW
AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $1,000 $1,000
Financial Guarantee No. 400 JV 3364: $30,000 $5,000
* Includes construction of the access road to the City's well site.
Adopted by the City Council on February 15, 2000.
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