2000-10-24 LOC Reduction
1200 25th Avenue South, P.O. Box 1717, S1. Cloud, MN 56302-1717
320.229.4300
TO:
Linda Goeb
City of Albertville
FROM:
Peter 1. Carlson, P .E.
City Engineer
DATE:
October 24,2000
RE:
Letter of Credit Reduction
Cedar Creek South 6th Addition
Albertville, Minnesota
SEH No. A-ALBEV 0105.00 14
.
MEMORANDUM
800.572.0617
320.229.4301 FAX
I reviewed the work completed to date and recommend the surety for Cedar Creek South 6th
Addition be reduced to no less than $67,700. This amount represents 10 percent of the
construction cost of this project, plus 110 percent of the work to be completed. It also includes
$50,000 for landscape work to be completed. It is the City's policy to maintain 10 percent in the
letter of credit in the first year following completion of the work.
Please call me if you have any questions.
djg
c: Mike Couri, City Attorney
Don Jensen, Pilot Land Development
John Wilczek, Meyer-Rohlin
Wayne Stark, SEH
Mike Czech, SEH
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