HomeMy WebLinkAboutCity Council Resolution 2000-083RESOLUTION NO. 2000-083
REDUCING REQUIRED FINANCIAL GUARANTEE
GEM COURT (99017)
WHEREAS, in accordance with the development contract dated July 27, 1999, Joseph and Sonia and
Kruchten and Mark and Isabella Stipankov, developers of Gem Court (99017), have 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 $100,016 to
$21,693 to reflect the completed work. Certificate of Deposit No. 17711 may be reduced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 21,680
$ 4,336
Sanitary Sewer
16,495
3,299
Watermain
16,091
3,218
Storm Sewer
19,444
3,889
Boulevard and Drainage Swale Sod
1,200
1,200
Driveway Closing - Co. Rd. 101
1,100
-0-
Construction of New Driveway for Lot 6
500
-0-
NURP Pond Construction
3,500
-0-
Street Signs (200)
200
-0-
Site Grading and Drainage Improvements
8,090
2,427
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,000
1,000
Design, Administration, Inspection, As-Builts
10,716
2,324
TOTAL
$ 100,016
$ 21,693
That the required financial guarantee for the above items be reduced as detailed above from $100,016 to
$21,693 to reflect the completed work. Certificate of Deposit No. 17711 may be reduced accordingly.
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RESOLUTION NO. 2000-083
GEM COURT (99017)
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
Cash:
Financial Guarantee (Cash):
Adopted by the City Council on February 15, 2000.
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 2,600 $ 2,600
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