HomeMy WebLinkAboutCity Council Resolution 2000-577RESOLUTION NO. 2000-577
REDUCING REQUIRED FINANCIAL GUARANTEE
NANTERRE ADDITION (94093)
WHEREAS, in accordance with the development contract dated October 13, 1995, Weston Corporation,
developer of Nanterre Addition (94093), 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 be reduced as follows:
ITEM ORIGINAL NEW
AMOUNT AMOUNT
Street Construction (excluding State
Aid Proj.)
$132,703
$ -0-
Sanitary Sewer
200,629
-0-
Watermain
140,876
-0-
Storm Sewer
76,230
-0-
Boulevard and Drainage Swale Sod
9,000
-0-
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
20,000
5,000
Street Signs (6 x 200)
1,200
-0-
Site Grading and Drainage Improvements
(excluding State Aid Proj.)
384,250
76,850
Park and Trail Improvements
(excluding State Aid Proj.)
10,179
-0-
Setting Iron Monuments
3,600
-0-
Design, Administration, Inspection, As-Builts
117,440
9,822
Wetland Mitigation and Performance
Monitoring
13,400
11,000
TOTAL
$1,109,507
$102,672
That the required financial guarantee for the above items be reduced as detailed above from $109,328 to
$102,672 to reflect the completed work. Letter of Credit No. 15297 may be reduced accordingly.
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RESOLUTION NO. 2000-577
NANTERRE ADDITION (94093)
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 $1,000
Letter of Credit No. 1731: $95,000 $45,000
Adopted by the City Council on November 28, 2000.
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