HomeMy WebLinkAboutCity Council Resolution 2000-545CITY OF PLYMOUTH
RESOLUTION NO. 2000-545
REDUCING REQUIRED FINANCIAL GUARANTEE
SANDPIPER PONDS ADDITION (97089)
WHEREAS, in accordance with the development contract dated June 23, 1998, Brook Park Realty L.L.P.,
developer of Sandpiper Ponds Addition (97089), 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 $36,512 to
$21,952 to reflect the completed work. Letter of Credit No. 911100000185 may be reduced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 51,500
$ -0-
Sanitary Sewer
30,700
-0-
Watermain
21,900
-0-
Storm Sewer
31,800
-0-
Boulevard and Drainage Swale Sod
9,600
9,600
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
10,200
-0-
Street Signs (1 X 200)
200
-0-
Site Grading and Drainage Improvements
123,900
10,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
33,576
2,352
TOTAL
$ 313,376
$ 21,952
That the required financial guarantee for the above items be reduced as detailed above from $36,512 to
$21,952 to reflect the completed work. Letter of Credit No. 911100000185 may be reduced accordingly.
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RESOLUTION NO. 2000-545
SANDPIPER PONDS ADDITION (97089)
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 No. 911100000182:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 13,610 $ 5,000
FURTHER BE IT RESOLVED that the financial guarantee for erosion control remain at $1,000 cash with
Letter of Credit No. 911100000182 being reduced from $13,610 to 5,000.
FURTHER BE IT RESOLVED that the street construction is accepted for continual maintenance as of
November 14, 2000 subject to the one year guarantee by the Developer per Maintenance Bond No. 2651767
provided by the Great American Insurance Company.
Adopted by the City Council on November 14, 2000.
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