HomeMy WebLinkAboutCity Council Resolution 2000-618RESOLUTION NO. 2000-618
REDUCING REQUIRED FINANCIAL GUARANTEE
PLUM TREE EAST 5TH ADDITION (20084)
WHEREAS, in accordance with the development contract dated July 12, 2000, Lundgren Bros. Construction,
Inc., developer of Plum Tree East 5th Addition (20084), 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 $314,272 to
$47,264 to reflect the completed work. Letter of Credit No. FGAC-00146 may be reduced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 55,100
$ 11,020
Sanitary Sewer
45,000
9,000
Watermain
25,500
5,100
Storm Sewer
25,900
5,180
Boulevard and Drainage Swale Sod
3,200
3,200
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
3,000
-0-
Street Signs (lx200)
200
-0-
Site Grading and Drainage Improvements
114,000
-0-
Park and Trail Improvements
6,800
6,800
Setting Iron Monuments
1,900
1,900
Design, Administration, Inspection, As-Builts
33,672
5,064
TOTAL
$ 314,272
$ 47,264
That the required financial guarantee for the above items be reduced as detailed above from $314,272 to
$47,264 to reflect the completed work. Letter of Credit No. FGAC-00146 may be reduced accordingly.
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RESOLUTION NO. 2000-618
PLUM TREE EAST 5TH ADDITION (20084)
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
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (Included in Plum Tree East 4th
Addition (20045))
Cash:
Financial Guarantee:
Adopted by the City Council on December 19, 2000.
ORIGINAL NEW
AMOUNT AMOUNT
$ -0- $-0-
$-0-
-0-
$-0- $ -0-
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