2004-12-23 LOC Reduction
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SEH
MEMORANDUM
TO:
Larry Kruse
Albertville City Administrator
FROM:
Robert Moberg, PE
Project Manager
DATE:
December 23,2004
RE:
Albertville, MN
Shoppes at Towne Lakes
Letter of Credit Reduction
SEH No. A-ALBEV0406.00
I have reviewed the developer's request to reduce the Letter of Credit and I have also reviewed the work
completed to date. Street (except wear course) and utility work have been completed. The majority of the
landscaping work for the site has been completed. I recommend that the Letter of Credit be reduced from
$255,600 to no less than $88,350. The remaining balance will be sufficient to cover the cost of the
remaining work.
Please call me at 651.490.2147 if you have questions.
nm
c: Mike Coun, City Attorney
Dave Hempel, CPDC
x: \ae\albev\common\0406\kruse 122304.doc
Short Elliott Hendrickson Inc., 3535 Vadnais Center Drive, 51. Paul, MN 55110-5196
5EH is an equal opportunity employer I www.sehinc.com I 651.490.2000 I 800.325.2055 I 651.490.2150 fax