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LAKE ELMO CITY COUNCIL MINUTES FEBRUARY 7, 1989 PAGE 9 The lack of and size of numbers on many homes in Cimarron was a safety concern brought up by these residents. The Council suggested the City Administrator set up and oversee a meeting with the Building Official, Fire Chief, residents to address the appropriate signing. Dan Kr.awczyk stated NHD would be happy to meet with this group. M/S/P Graves/Moe -- to direct the City Administrator to set up and oversee a meeting with the Building Official, Fire Chief, Dan Krawczyk and an appropriate representative of the Cimarron residents to address appropriate, reflective number signing on homes. (Motion carried 5-0). 9. CITY ENGINEER.'S REPORT: A. Award of Bid-39th Street Construction Larry Bohrer reported on February 1, 1989,.bids were received for the 39th Street, CSAH 17 to TH5. Bids submitted are tabulated in his letter dated 2/1/89. It was recommended that the work be awarded to the low bidder, C.W. Houle, Inc., in the amount of $150,719.70. M/S/P Graves/Moe - to award the work on 39th Stret, CSAH 17 to TH 5 to the low bidder, C.W. Houle, Inc., in the amount of $150,719.70. (Motion carried 5-0). B. Escrow Release #I; Brockman 3rd Addition Larry Bohrer reported the Developer's Agreement for the Brockman 3rd Addition required that the Developer place on deposit with the City a security deposit to insure that the improvements are completed. The amount of the deposit is estimated by the City Engineer. The Agreement also provides that the deposit amount shall be adjusted, up or down, a.t the time of opening of construction bids to more accurately reflect the true project cost. Tabulated below is the reviewed project cost in accordance with the recently opened bids: Grading $20,000 Storm Sewer, Watermain Looping & Street Improvements $1.50,700 Design, Staking and Inspection $ 42,450 Subtotal + 25% per Ordinance Total Performance Assurance $213,1.50 $ 53,250 $266,400 The present letter of credit on file with the City is for $347,500. Bohrer is recommending that based on the bids for the work, the letter of credit can be reduced to $266,400. The escrow reduction would be as follows: