CITY COUNCIL COMMUNICATION: 00-503 AGENDA: NOVEMBER 6, 2000 SUBJECT: SURETY REDUCTION FOR BROOK RUN VILLAGE PLAT 1 TYPE: RESOLUTION ORDINANCE RECEIVE/FILE SUBMITTED BY: JAMES M. GRANT COMMUNITY DEVELOPMENT DIRECTOR

ITEM ____ OFFICE OF THE CITY MANAGER CITY OF DES MOINES, IOWA SYNOPSIS - Request the reduction of the Letter of Credit from the original amount of $144,648 (Letter of Credit 6020, Union Planters Bank Of Belleville, Illinois) to $33,207 for sidewalks for Brook Run Village Plat 1. Work on the sidewalks is partially completed. FISCAL IMPACT - NONE RECOMMENDATION - APPROVAL. BACKGROUND - This surety is part of the requirements for the plat. The Engineering Department has inspected and certified the work has been partially completed. Gene Stanbrough, principal of Brook Run Village, L.C., (Iowa Realty, 3501 Westown Pwky, West Des Moines, IA 50265) requests the partial release of the surety since the requirements for sidewalk have, for the most part, been met.