HomeMy WebLinkAboutengineer letter Bracketts Development LOC Reduction 11-9-18
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November 9, 2018
City of Orono
Attn: Adam Edwards
PO Box 66
Orono, MN 55323
RE: Southways Development
Letter of Credit Reduction
Dear Adam:
As requested, we have reviewed the applicants request to reduce the letter of credit for the Southways
Development. In general, the following items remain to be completed:
Landscaping: $46,185
Common Excavation: $4,930
Sanitary Sewer: $5,643
Remove Existing Sanitary Sewer: $16,500
Storm Sewer: $1,438
Bituminous Paving (remove old road): $49,350
Erosion Control: $8,375
Lift Station and Manhole: $15,000
Total: $147,241
The remaining work has an estimated value of $147,241. Therefore, it is recommended that the City
retain a letter of credit in the amount of $221,132 (150% of the estimated value).
Please let me know if you have questions or need additional information.
Sincerely,
Bolton & Menk, Inc.
David P. Martini, P.E.
Principal Engineer