LC Reduction Letter 11-04-09
Status Report 5/15/10 PLAN.OR2
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LC #9465006 Expires 10/8/09
Walgreens (Seven Forty One Crossings)
Planning Case 08-05
Site Plan Agreement
$182,963 (grading, erosion control, landscaping, etc.)
Notifiy Sharmeen Al-Jaff
NOTE: LC Automatically renews for successive one-year terms
9/25/09 - Notified Sharmeen. Kim
10/2/09 - Notified Sharmeen. Kim
10/27/09 - Per Sharmeen, hold LC and check status 5/15/10. Kim
11/4/09 - Per Sharmeen, reduce LC to $14,330 to be broken down as follows:
$2,000 Grading
$6,000 Utilities
$2,000 Paving
$3,830 Landscaping
$ 500 Erosion Control
LC reduction request letter mailed to bank on 11/4/09. Kim
@2009 Lotus Development Corp.
11/4/09 at 2:50 PM S=Sratus P=Priority
Page 1
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax: 952.227.1190 .
Engineering
Phone: 952.227.1160
Fax: 952.227.1170
Finance
Phone: 952.227.1140
Fax: 952.227.1110
Park & Recreation
Phone: 952.227.1120
Fax: 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax: 952.227.1404
Planning &
Natural Resources
Phone: 952.227.1130
Fax: 952.227.1110
Public Works
1591 Park Road
Phone: 952.227.1300
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125
Fax: 952.227.1110
Web Site
www.ci.chanhassen.mn.us
November 4, 2009
BNC National Bank
33 South Seventh Street, Suite 200
Minneapolis, MN 55402
Re:
Letter of Credit No. 9465006 Reduction - Walgreens
Planning Case No. 08-05
To Whom It May Concern:
Please accept this letter as authorization to reduce Letter of Credit No. 9465006 to
$14,330. Please send written acknowledgement of this reduction at your earliest
convemence.
If you have any questions or concerns, please contacLmehy email at
saIiaff@ci.chanhassen.mn.us or at 952-227-1134.
Sincerely,
CITY OF CHANHASSEN .
~
~~~
. -~
Shanneen A1:f _.
Senior Planner
SAJ:ktm
c: Max Heitzmttnn'l\.uxop,Inc.
Joe Shamla, ProjecLEngineer
g:\pJan\2008pJan~ingc~ses\08-05,'.waJgreens\lcreduction .n.-04-09:doc
Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow
Meuwissen, Kim
From:
Sent:
To:
Cc:
Subject:
AI-Jaff, Sharmeen
Wednesday, November 04,200911 :13 AM
Max Heitzmann
Sham la, Joe; Meuwissen, Kim
Reduction of Letter of Credit for Wallgreens 7 and 41 Crossing
Good morning Max,
Joe and I just reinserted your site. Our findings are as follows:
Both Sites
1. Provide a copy of the asbuilts. Can combine the two sites into one drawing or complete them
separately. (incomplete)
2. Utilities must be covered by a cross-access agreement. Provide a copy of the recorded document.
(incomplete)
3.
Wallgreens
1. The raing3rden at 'NJlgreens needs a little work. It is eroding in one area and need to be filled in and
something a little bit more heavy duty might need to be put in th3t area erosion control bl3nket, turf
reinforcement m3t, etc. Otherwise the plants look good. If you v.'3nt to meet to discuss, let me know.
/\Iso, just curialiS it f1oesn't show on the plan where th3t inlet pipe is coming from. Docs it connect to
roof e1rains somewhere, or .....hore is the w3ter coming from? It's obviously 3 significJnt JmOUflt.
(complete)
2. Silt fence must be removed from 2 catch basins in the grassy areas. (incomplete)
Additional Building Pad
1. Parking lot striping not complete. (incomplete)
2. Provide two year maintenance bond for the trail. (incomplete)
3. Erosion control Silt fence must be installed until'.'eget3tion est3blished. (complete)
4. Install eof near the trash dumpster of the retail building. (incomplete)
5. Verify that the cross walk for the new trail is striped. (incomplete)
We will reduce the letter of credit but will not be able to release it until the work is complete.
Grading $2,000
Utilities $6,000
Paving $2,000
landscaping $3,830
Erosion Control $500
The new letter of credit will be reduced to $14,330.
Please notify us when these outstanding items are complete.
Sincerely
Sharmeen AI-Jaff
Senior Planner
W 952-227-1134
From: Max Heitzmann [mailto:max@anxon.com]
Sent: Tuesday, November 03,20099:50 AM
1
To: AI-Jaff, Sharmeen
Subject: RE: Wallgreens 7 and 41 Escrow
Hi Sharmeen -
I believe engineering is now all set on this issue, so I am hopeful that allows the release of the letter of credit. As far as
the previously existing parking lot goes, we do plan on patching, sealing and re-striping for both maintenance and
aesthetic purposes, but I don't see that that is actually part of the agreement, and I need to get my contractors paid before
they will come out and perform the work - a payment that is being held up by the letter of credit.
Thanks for your help.
Max
Max Heitzmann
Vice President
Anxon, Inc.
601 Marquette Ave. S
Suite 100
Minneapolis, MN 55402
0- 612.465.0861
f- 612.341.9131
m-763.443.8613
-----Original Message-----
From: AI-Jaff, Sharmeen [mailto:SAI-Jaff@cLchanhassen.mn.us]
Sent: 2009-09-04 16:06
To: Max Heitzmann
Subject: FW: Wallgreens 7 and 41 Escrow
Max,
Here are comments that I have received so far. I told you that the parking lot needs to be resurfaced in front of
the strip mall and both locations need to be striped
Sincerely
Sharmeen AI-Jaff
Senior Planner
if 952-227-1134
From: Shamla, Joe
Sent: Friday, September 04/ 20093:34 PM
To: AI- Jaff, Sharmeen
Subject: Wallgreens 7 and 41 Escrow
Sharmeen,
Here are the outstanding issues for this site.
Both Sites
2. Provide a copy of the asbuilts. Can combine the two sites into one drawing or complete them
separately.
3. Utilities must be covered by a cross-access agreement. Provide a copy of the recorded document.
Wallgreens
2
"
1. The raingarden at Walgreens needs a little work. It is eroding in one area and need to be filled in and
something a little bit more heavy duty might need to be put in that area - erosion control blanket,
turf reinforcement mat, etc. Otherwise the plants look good. If you want to meet to discuss, let me
know. Also, just curious - it doesn't show on the plan where that inlet pipe is coming from. Does it
connect to roof drains somewhere, or where is the water coming from? It's obviously a significant
amount.
2. Silt fence must be removed from 2 catch basins in the grassy areas.
Additional Building Pad
4. Parking lot striping not complete.
5. Provide two year maintenance bond for the trail.
6. Erosion control- Silt fence must be installed until vegetation established.
7. Install eof near the trash dumpster of the retail building.
8. Verify that the cross walk for the new trail is striped.
Please let me know if you have any questions.
3
BNC
National Ban.k A Subsidiary ofBNCCORp, Inc.
The4Ai"of Financial Success@ i
333 South Seventh Street Suite 200 Minneapolis, MN 55402 www.bncbank.com Telephone: (612) 305-2200 FAX: (612) 305-0434
IRREVOCABLE LETTER OF CREDIT
!
No. 9465006
Date: October 8, 2008
TO: City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account ofSEY41, LLC and in your favor, our Irrevocable Letter of Credit
in the amount of$182,963.00, available to you br your draft drawn on sight on the undersigned bank.
The draft must:
a) Bear the clause, "Drawn under Lett~r of Credit No. 9465006, dated October 8, 2008, of BNC
National Bank'" '
,
b) Be signed by the Mayor or City Man4ger ofthe City ofChanhassen;
c) Be presented for payment at 333 South 7th Street, Suite 440, Minneapolis, Minnesota, 55402, on
or before 4:00 p.m. on October 8, 2009; .
d) Be accompanied by the Mayor's or <i::ity Manager's written certification to BNC National Bank
certifying that "That the Developer has failed! to comply with the Site Plan Agreement dated May 12,
2008 between the City and the Developer and that the City is entitled in accordance with the terms of the
Site Plan Agreement to draw on the Letter of Credit".
The amount available to be drawn under this Letter of Credit may be reduced, from time to time,
upon receipt by BNC National Bank of a certifIcate from the City of Chanhassen which specifically sets
forth the particular amount by which the Lett~r of Credit is to be reduced. The amount available under
this Letter of Credit shall be reduced by an aJ-tiount equal to the amount stated in the certificate from the
City of Chanhassen. i
This Letter of Credit shall automatically renew for successive one-year terms unless, at least forty-
five (45) days prior to the next annual renewaI date (which shall be October 8 of each year), the Bank
delivers written notice to the Chanhassen City rv;{anager that it intends to modify the terms of, or cancel, this
Letter of Credit. Written notice is effective if $ent by certified mail, postage prepaid, and deposited in the
U.S. Mail, at least forty-five (45) days prio~ to the next annual renewal date addressed as follows:
Chanhassen City Manager, Chanhassen City H~l, 7700 Market Boulevard, P.O. Box 147, Chanhassen, MN
55317, and is actually received by the City at le$t thirty (30) days prior to the renewal date.
Gr
EQUAL HOUSING
LENDER
Member FDIC
This Letter of Credit sets forth in full pur understanding which shall not in any way be modified,
amended, amplified, or limited by reference t~ any document, instrument, or agreement, whether or not
referred to herein. '
,
This Letter of Credit is not assignable. IThis is not a Notation Letter of Credit. More than one draw
may be made under this Letter of Credit. '
This Letter of Credit shall be governe~ by the most recent revision of the Uniform Customs and
Practice for Documentary Credits, International Fhamber of Commerce Publication No. 500.
We hereby agree that a draft drawn un4er and in compliance with this Lette
honored upon presentation.
BY:
Its
~~
i!JfJ
it shall be duly