2004-08-25 LOC Reduction
~
SEH
MEMORANDUM
TO:
Larry Kruse
Albertville City Administrator
FROM:
Peter J. Carlson, PE
Albertville City Engineer
DATE:
August 25, 2004
RE:
Albert Villas 6th Addition
Letter of Credit Reduction
Albertville, Minnesota
SEH No. A-ALBEV 0212 14
I reviewed the work remaining for the above referenced project and calculated the value of that work as
follows:
1. Bituminous Wear Course
2. Storm Water Pond Correction
3. Sidewalk Repair
4. Wetland Mitigation Repair
5. Punch List Items
6. Warranty Period (10% of Contract Value)
Total
$
$
$
$
$ 10,000
$129,600
$235,724
51,124
15,000
25,000
5,000
If the developer is current with payment of all City fees, I recommend lowering the letter of credit to no
less than $235,724. Please call me if you have any questions.
djg
c: Tina Lannes, City of Albertville
Mike Couri, City Attorney
Bob Moberg, SEH
Russ Bly, SEH
u:\a\alhev\021200\corr\rn~city-ltr of credit reduclion-082504.doc
Short Ellioll Hendrickson Inc., 1200 25th Avenue South, P.O. Box 1717, SI. Cloud, MN 56302-1717
SEH is an equal opportunity employer I www.sehinc.com I 320.229.4300 I 800.572.0617 I 320.229.4301 fax