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COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION #240-2007
APPROVAL OF REDUCTION IN LETTER OF CREDIT
Quietwood East II Subdivision
WHEREAS, City Engineer Ruekert-Mielke, Inc. has recommended a reduction in the
letter of credit for the Quietwood East II Subdivision in the amount of $41 ,600; and
WHEREAS, The Finance Committee has recommended that the letter of credit for the
Quietwood East II Subdivision be reduced by $41,600.
NOW, THEREFORE, BE IT RESOLVED That the Common Council of the City of
Muskego, upon the recommendation of the Finance Committee, does hereby approve a
reduction in the letter of credit for the Quietwood East II Subdivision in the amount of
$41,600.
DATED THIS 11TH DAY OF DECEMBER ,2007.
SPONSORED BY:
FINANCE COMMITTEE
Ald. Bob Melcher
Ald. Neil Borgman
Ald. Keith Werner
This is to certify that this is a true and accurate copy of Resolution #240-2007 which
was adopted by the Common Council of the City of Muskego.
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CITY OF MUSKEGO
Staff Report to Finance Committee/Common Council
To: Finance Committee/Common Council
From: Engineerin~Department, David J. White, P.E., City Engineer ~
Subject: 3rd and Final Reduction of Letter of Quietwood East II Development
Date: November 29, 2007
Background
Quietwood East II subdivision is located north of Woods Road and east of
Quietwood Drive. The City and Quietwood East LLC entered into a Developer's
agreement in April 2005 which required a letter of credit for the full amount
($405,924.25) of the development's improvements.
Construction on the project began in April 2005 with the work being inspected by
Ruekert/Mielke. Previous letter of credit reductions have the remaining letter of
credit balance at $41,600.00
Quietwood East LLC has completed all items of work including the final lift of
asphalt aD,~ is re,questing that their letter of credit be Tf:'duced by the ~emaining full
amount of$41,6ÓO.OO . Ruekert/Mielke concurs that ~bc work identified in this [mal
reduction request has been satisfactorily completed.
Attached please find a work sheet detailing the letter of credit information and the
final reduction.
Recommendation for Action by Committee/Council:
I recommend that the Quietwood East II letter of credit be reduced by $41,600.00 to
zero.
Fiscal Note(s): None
Total $ Requested:
Amount of Total Requested Budgeted:
Amount of Total Requested Unbudgeted:
Expendithre Account(s) number recommended be used:
S:\CITYHALL\Engineering\Subdivisions\Quietwood East I!\LOC reduction #3 112907.doc