2001-11-14 LOC Reduction
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MEMORANDUM
1200 25th Avenue South, P.O. Box 1717, St. 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
DATE:
November 14,2001
RE:
Letter of Credit Reduction
ertville, Minnesota
SEH No. A-ALBEV0105.00 14
The construction work for Cedar Creek South 6th 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 standards. Once the work has been completed it has been city policy to
reduce the letter of credit to no less than 10% of the original construction amount. In accordance
with this policy I recommend that the letter of credit be reduced to no less than $11,000.
Please call me if you have any questions.
cb
c: Mike Couri, City Attorney
Cindy Sherman, City Planner
Don Jensen, Pilot Land Development
Mike Czech, SEH
w:\albev\OI05\corr\1I 1401-m-cedarcreek6th.doc
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