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<br />GROUND DEVELOPMENT, INC. <br />7575 GOLDEN VALLEY ROAD <br />SUITE 250 <br />GOLDEN V ALLEY, MINNESOTA 55427 <br />763-54<6-2625 ext. I I <br />facsimile 763-546-732 I <br /> <br />October 9,2006 <br /> <br />Mr. Dallas Larson <br />City Administrator <br />City of Centerville <br />1880 Main Street <br />Centerville, MN 55038 - 9794 <br /> <br />RE: Pheasant Marsh 3rd Addition Letter of Credit <br /> <br />Dear Mr. Larson: <br /> <br />The purpose of this letter is to request a partial reduction in the letter of credit for Pheasant <br />Marsh 3rd Addition. We have presently made payments to Soil - Con, Inc. Our Grading <br />Contractor in the amount of $163,501.28 and C. W. Houle, Inc. our utility and street contractor <br />in the amount of $517,264.56. The Site grading is done, Utilities and street and sidewalk are <br />installed and the trail is under construction. Total work completed is $680,766.14 we are <br />requesting the letter of credit be reduced by $680,766.14. Enclosed is our engineer's payment <br />request along with actual quantities from our contracts with Soil - Con and C. W. Houle. <br /> <br />Secondly, I would like to request payment of the trunk water over sizing per development <br />contract. I have enclosed our engineers cost tabulation from the contract of C. W. Houle for <br />both 8" and 12" water main. The difference is $12,991.30 for reimbursement to GOI for trunk <br />water over sizing. <br /> <br />Please schedule this Letter of Credit reduction on the next available City Council Meeting. If you <br />need any additional information to process this request please contact me immediately so we <br />will not miss the next available Council Meeting. <br /> <br />The letter of Credit is scheduled to expire in November and would like to renew the LC for the <br />new amount of $281,839.86. Please review and if you have any questions let me know. <br /> <br />. Sincerely, C'< <br /> <br />22~}~ ~ <br /> <br />Manager of Operations <br />Ground Development, Inc. <br /> <br />Cc: Troy Livgard James R. Hill <br />Anne Storm GOI <br /> <br />~S <br />