HomeMy WebLinkAboutCity Council Resolution 2000-156RESOLUTION NO. 2000-156
REDUCING REQUIRED FINANCIAL GUARANTEE
WALNUT GROVE POND ADDITION (94100)
WHEREAS, in accordance with the development contract dated May 31, 1995, Three Star Trucking,
developer of Walnut Grove Pond Addition (94100), 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
$ 46,000
$ 9,200
Sanitary Sewer
48,000
-0-
Watermain
3 9, 800
-0-
Storm Sewer
23,000
-0-
Boulevard and Drainage Swale Sod
4,400
2,700
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
70,500
10,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,200
-0-
Design, Administration, Inspection, As-Builts
27,996
2,628
TOTAL
$261,296
$24,528
That the required financial guarantee for the above items be reduced as detailed above from $32,816 to
$24,528 to reflect the completed work. Letter of Credit No. 96-6 may be reduced accordingly.
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RESOLUTION NO. 2000-156
WALNUT GROVE POND ADDITION (94100)
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 $5,000
Letter of Credit No. 95-6: $1,000 $5,000
Adopted by the City Council on March 21, 2000.
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