2006-10-30 LOC ReductionBOl~TON 8~. M B N K, 1 i''~IC_
Consulting Engineers & Surveyors
NAU Building • 7333 Sunwood Drive • Ramsey, MN 55303
Phone (763j 433-2851 • FAX (7b3j 427-0833
October 30, 2006
Mr. Larry Kruse, City Administrator
City of Albertville
5975 Main Avenue NE, P. O. Box 9
Albertville, MN 55301
RE: LaBeaux Station
Letter of Credit Reduction
BMI Project No. T] 5.21660
Dear Mr. Kruse:
Based on work completed, Terra Development, Inc. has requested a reduction to Letter of Credit No. 636
To date, the majority of the municipal utility (sanitary sewer, storm sewer, watermain) installation has
been completed and construction of the sub-grade for the Lachman Avenue roadbed has begun.
Upon review of the work completed and accounting for work outstanding, it is recommended that Letter
of Credit No. 636 be reduced from $256,000 to no less than $105,00. The reduced balance ($105,500)
will adequately ensure the completion of all improvements required.
Please let me know if you have any questions or would Iike additional information.
Sincerely,
BOLTON & MENK, INC.
,P....~,e____~.-..______--
Adam Na ad, P. E.
Albertvil e Assistant City Engineer
Cc: Tina Lannes -Albertville Finance Director
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