2002-12-09 LOC Reduction
1200 25th Avenue South, P.O. Box 1717, S1. Cloud, MN 56302-1717
320.229,4300
800,572,0617
320.229.4301 FAX
TO:
Linda Goeb
City Administrator
Albertville, Minnesota
FROM:
Peter J. Carlson, P .E.
City Engineer
DA TE:
December 9, 2002
RE:
Letter of Credit Reduction
Cedar Creek North 3rd Addition
Albertville, Minnesota
SEH No. A-ALBEV0102.00 14
The construction work for Cedar Creek North 3rd Addition is complete with the exception of the
final bituminous wear course. Our office has inspected the improvements and found them to be
in compliance with city standard. The improvements have been inplace for over a year. City's
policy is to maintain 5 percent in the letter of credit in the second year following completion of
the work. Therefore I recommend the letter of credit be reduced to $21,000.
c: Mike Couri, City Attorney
Don Jensen, Pilot Land Development
g: \sccv\pers\carlson\ccn3 lac. doc
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