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<br />Improvement <br /> <br />Site Grading/Turf Establishment <br />Landscaping <br />Storm Sewer <br />Street Improvements <br />Sanitary SewerfWatermain <br />Street Signs <br />Subtotal <br /> <br />Estimated Cost <br /> <br />$ 74,000 <br />$ 10,500 <br />$ 55,040 <br />$ 89,550 <br />$ 70,245 <br />$ 500 <br />$ 299,835 <br /> <br />Security remaining (125% of improvements): $42,475 <br /> <br />RECOMMENDED COUNCIL ACTION <br /> <br />Amount Reduced <br /> <br />$ 71 ,000 <br />$ 0 <br />$ 53,040 <br />$ 71,750 <br />$ 70,245 <br />$ 0 <br />$ 265,855 <br /> <br />Amount <br />Remaining <br />$ 3,000 <br />$ 10,500 <br />$ 2,000 <br />$ 17,980 <br />$ 0 <br />$ 500 <br />$ 33,980 <br /> <br />Staff recommends that the City Council authorize staff to reduce the letter of credit to the <br />developer, B. O'Meara Construction, Inc., to $42,475. <br />