2006-08-31 LOC ReductionEBO1_'TOtV 8L. M FEE N K , 1 I'JC_
Consulting Engineers & Surveyors
2638 Shadow Lane, Suite 200 • Chaska, MN 55318
Phone (952) 448-8838 - FAX (952) 448-8805
August 31, 2006
Mr. Larry Kruse, City Administrator
City of Albertville
5975 Main Avenue NE, P. O. Box 9
Albertville, MN 55301
RE: Shoppes at Praire Run - Letter of Credit Reduction
Albertville, Minnesota
BMI Project No. T15.21660
Dear Mr. Kruse:
I have reviewed the request by Finken Water, Inc. to reduce the Letter Credit based upon work completed.
To date, all municipal improvements have been completed in general conformance with the plans and
specifications and approximately one-third (1/3) of the site has been developed. Based upon the work
completed to date, I recommend that the Letter of Credit be reduced from the current amount of $101,876
to no less that $52,500. The reduced balance will sufficiently cover the cost of the remaining landscaping
and grading items on the undeveloped lots.
Please let me know if you have any questions or would like additional information.
Sincerely,
BOLTON,& MENK, INC.
�" , A)`�
Adam Nafstad, P. E.
Albertville Assistant City Engineer
Cc: Tina Lannes - Albertville Finance Director
MANKATO, MN • FAIRMONT, MN - SLEEPY EYE, MN • BURNSVILLE, MN - WILLMAR, MN - CHASKA, MN - AMES, IA
wwwbollon-menk. com
An Equal Opportunity Employer