HomeMy WebLinkAboutCity Council Resolution 2000-575RESOLUTION NO. 2000-575
REDUCING REQUIRED FINANCIAL GUARANTEE
PLYMOUTH TECHNOLOGY PARK (91031)
WHEREAS, in accordance with the development contract dated December 11, 1997, Plymouth Partners II,
developer of Plymouth Technology Park (91031), 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 $16,016 to $0
(zero) to reflect the completed work. Letter of Credit No. 231 may be reduced accordingly and will be
released by the Finance Department.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-575_67458\CCR 2000-575.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 69,179
$ -0-
Sanitary Sewer
9,950
-0-
Watermain
17,876
-0-
Storm Sewer
41,220
-0-
Boulevard and Drainage Swale Sod
2,999
-0-
Mitigation Pond Construction
-0-
-0-
Treatment Pond Construction
24,000
-0-
Street Signs (1 x $200)
200
-0-
Site Grading and Drainage Improvements
88,680
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
30,492
-0-
TOTAL
$ 284,596
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $16,016 to $0
(zero) to reflect the completed work. Letter of Credit No. 231 may be reduced accordingly and will be
released by the Finance Department.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-575_67458\CCR 2000-575.doc
RESOLUTION NO. 20000-575
PLYMOUTH TECHNOLOGY PARK (91031)
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. 1087 96:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $-0-
$8,395
-0-
$8,395 $ -0-
FURTHER BE IT RESOLVED that the financial guarantee for erosion control be reduced from $1,000 cash
and Letter of Credit No. 1087 96 in the amount of $8,395 to $0 (zero). The financial guarantee may be
reduced accordingly and will be release by the Finance Department.
Adopted by the City Council on November 28, 2000.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-575_67458\CCR 2000-575.doc