HomeMy WebLinkAboutCity Council Resolution 2000-548CITY OF PLYMOUTH
RESOLUTION NO. 2000-548
REDUCING REQUIRED FINANCIAL GUARANTEE
PIKE LAKE WOODS ADDITION (97079)
WHEREAS, in accordance with the development contract dated December 4, 1997, Pike Lake Woods, Inc.,
developer of Pike Lake Woods Addition (97079), 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 $14,500 to
$3,024 to reflect the completed work. The financial guarantee, in this case cash, may be reduced accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-548_67431\CCR 2000-548.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 68,399
$ -0-
Sanitary Sewer
50,264
-0-
Watermain
36,105
-0-
Storm Sewer
27,201
-0-
Boulevard and Drainage Swale Sod
4,800
1,200
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
7,086
-0-
Street Signs (1 x 200)
200
-0-
Site Grading and Drainage Improvements
40,154
1,500
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
2,000
-0-
Design, Administration, Inspection, As-Builts
28,345
324
TOTAL
$ 264,554
$ 3,024
That the required financial guarantee for the above items be reduced as detailed above from $14,500 to
$3,024 to reflect the completed work. The financial guarantee, in this case cash, may be reduced accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-548_67431\CCR 2000-548.doc
RESOLUTION NO. 2000-548
PIKE LAKE WOODS ADDITION (97079)
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:
Cash in lieu of a letter of credit:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 10,400 $ 4,000
FURTHER BE IT RESOLVED that the financial guarantee for erosion control remain at $1,000 cash with
the cash in lieu of a letter of credit being reduced from $10,400 to 4,000.
Adopted by the City Council on November 14, 2000.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-548_67431\CCR 2000-548.doc