HomeMy WebLinkAboutCity Council Resolution 2000-619RESOLUTION NO. 2000-619
REDUCING REQUIRED FINANCIAL GUARANTEE
WAYZATA FARMS ADDITION (20100)
WHEREAS, in accordance with the development contract dated October 26, 2000, Paragon Designers and
Builders Corporation, developer of Wayzata Farms Addition (20100), 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 $254,051 to
$24,030 to reflect the completed work. The required financial guarantee may be reduced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 55,902
$ 11,180
Sanitary Sewer
30,777
-0-
Watermain
26,216
-0-
Storm Sewer
69,559,
-0-
Boulevard and Drainage Swale Sod
1,800
1,800
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
8,000
1,600
Street Signs (200)
200
200
Site Grading and Drainage Improvements
33,377
6,675
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,000
-0-
Design, Administration, Inspection, As-Builts
27,220
2,575
TOTAL
$ 254,051
$ 24,030
That the required financial guarantee for the above items be reduced as detailed above from $254,051 to
$24,030 to reflect the completed work. The required financial guarantee may be reduced accordingly.
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RESOLUTION NO. 2000-619
WAYZATA FARMS ADDITION (20100)
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
Cash:
Financial Guarantee (cash):
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 3,500 $ 3,500
FURTHER BE IT RESOLVED that the sanitary sewer, watermain and storm sewer construction is accepted
for continual maintenance as of December 19, 2000 subject to the two year guarantee by the Developer per
Maintenance Bond No. 54115667 issued by United Fire and Casualty Company.
Adopted by the City Council on December 19, 2000.
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