2006-12-11 LOC Engineering Reduction RecommendationBO L_TON 8L M i--= N K , I NC_
Consulting Engineers & Surveyors
NAU Building • 7333 Sunwood Drive • Ramsey, MN 55303
Phone (763) 433-2851 • FAX (763) 427-0833
December 11, 2006
Mr. Larry Kruse, City Administrator
City of Albertville
5975 Main Avenue NE, P. O. Box 9
Albertville, MN 55301
RE: Hunter's Pass Estates
Letter of Credit Reduction No. 3
BMI Project No. T15.21657
Dear Mr. Kruse:
Based on work completed, Minnesota Development Agency, LLC has requested a
reduction to the current Letter of Credit. To date, with the exception of the installation of
fencing and minor punchlist items, all work has been completed and found to be in general
compliance with plans and specifications. It is therefore recommended that the Letter of
Credit be reduced from $223,788 to no less than $204,120. This reduced balance is
sufficient performance security for the work outstanding.
Please let me know if you have any questions or would like additional information.
Sincerely,
BOL/TON/&/MENK, INC.
Adam Na stad, P.E.
Albertville Assistant City Engineer
Cc: Tina Lannes - Albertville Finance Director
Dwight Gunnarson, P.E. - MN Development Agency
MANKATO, MN • FAIRMONT, MN • SLEEPY EYE, MN • BURNSVILLE, MN •WILLMAR, RAMSEY, MN • CHASKA, MN • AMES, IA
www.bolton-menk.com
An Equal Opportunity Employer