2004-12-23 LOC Reduction
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SEH
MEMORANDUM
TO:
Larry Kruse
Albertville City Administrator
FROM:
Robert Moberg, PE
Project Manager
DATE:
December 23, 2004
RE:
Albertville, MN
Towne Lakes 3rd Addition
Letter of Credit Reduction
SEH No. A-ALBEV03l 0.00
I have reviewed the developer's request to reduce the Letter of Credit and I have also reviewed the work
completed to date. With the exception of wear course paving, all street and utility work has been
completed. The majority of the landscaping work for the site has also been completed. I recommend that
the Letter of Credit be reduced from $354,000 to no less than $155,100. The remaining balance will be
sufficient to cover the cost of the remaining work.
Please call me at 651.490.2147 if you have questions.
nm
c: Mike Couri, City Attorney
Dave Hempel, CPDC
x: \ae\albev\common\ TLkks3rdLCRed 122304.doc
Short Elliott Hendrickson Inc.. 3535 Vadnais Center Drive, 51. Paul, MN 55110-5196
5EH is an equal opportunity employer I www.sehlnc.com I 651.490.2000 I 800.325.2055 I 651.490.2150 fax