01-12-1987 Council Packet - Laserfiche WebLink

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0�r MEETING TO: Mark Bernhardson, City Administrator JAN 121987 FROM: John R. Gerhardson, Public Works CoordinatorCITY OF ORONO DATE: January 7, 1987 SUBJECT: Dickey Lake Drive Maintenance and Letter of Credit Reduction In November of 1986 the developers of Ringerswood subdivision completed approximatly 95% of the work required on the street, ditches, and shoulders. Initially the developer posted a $13,650 letter of credit with the City of Orono to cover the costs of all improvements . Because the road work is completed with the exception of minor shoulder work and some ditch clean up the developer has requested the city to begin maintenance of the street and to reduce the letter of credit amount. The City engineer has completed an inspection of the street and related items (see attached) and recommends reducing the amount of the letter of credit to $5,000 and to begin maintenance of the street as long as the city is in receipt of a hold harmless agreement regarding the shoulders of the street. (see attached) Recommendation - That the Orono Council approve the maintenance of Dickey Lake Drive by the Orono Public Works Department and to reduce the amount of the letter of credit to $5,000. Proposed Motion. Moved by Seconded by to accept Dickey Lake Drive as a pull is street effective January 12, 1987 and direct the public works department to begin maintenance of Dickey Lake Drive and to reduce the letter of credit to Ayes _ Nays �lo: Mayor and Council Members From: Mark E. Bernhardson, City Administrator(i��'/Y�� Forwarded recommending approval as the City agreed to take over the road upon completion and the reduction should cover the City's costs.