HomeMy WebLinkAboutCity Council Resolution 2000-198RESOLUTION NO. 2000-198
REDUCING REQUIRED FINANCIAL GUARANTEE
HEATHER RUN 4TH ADDITION (95001)
WHEREAS, in accordance with the development contract dated February 21, 1995, Lundgren Bros.
Construction, Inc., developer of Heather Run 4th Addition (95001), 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
$75,800
$-0-
Sanitary Sewer
61,600
-0-
Watermain
42,500
-0-
Storm Sewer
21,100
-0-
Boulevard and Drainage Swale Sod
5,600
-0-
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
9,600
-0-
Setting Iron Monuments
2,800
-0-
Design, Administration, Inspection, As-Builts
26,328
-0-
TOTAL
$245,728
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $448 to $0 (zero)
to reflect the completed work. Letter of Credit Number 28912-A may be reduced accordingly and will be
released by the Finance Department.
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RESOLUTION NO. 2000-198
HEATHER RUN 4TH ADDITION (95001)
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 reduced as follows:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $-0-
$-0- $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
to $0 (zero). The financial guarantee may be reduced accordingly and will be released by the Finance
Department.
Adopted by the City Council on April 11, 2000.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-198_67083\CCR 2000-198.doc