06/07/99 Jackola/Request to Reduce Letter of CreditJUN - 9 1999
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�h�+eests 6 V�
June 7, 1999
City of Kalispell
312 1 S` Ave East
Kalispell, MT. 59901
Attn: City Manager, Mr. Chris Kukulski
Re: Request to reduce the irrevocable letter of Credit #98-1002 on Southfield Park
Dear Mr. Kukulski,
Southfield Park Subdivision is now nearing completion. We would request a 75% reduction on
the letter of credit requirement for this project. The status of the original required improvements
is as follows:
Item
Completed $
Uncompleted $
Status
3`d Ave East RN
$30,600.00
Completed
18d' St.R.W.
$13,950.00
Completed
8 Lighting Poles
$24,000.00
Completed
Storm Drainage
$75,950.00
Completed
Water Extension
$10,100.00
Completed
Sewer Extension
$11,400.00
Completed
Signage
$8,000.00
Uncompleted
Utilities
$40,000.00
Completed
28 Trees
$5,000.00
Uncompleted
Sub Totals
$206,000.00
$13,000.00
125%
$257,500.00
$16,250.00
6%Uncompleted
A 75% reduction reduces the letter of credit by $205,312.50. The remaining letter of credit
balance would be $68,437.50. This remaining balance covers the uncompleted work by 4 times.
In the event of any questions please give a call.
S' ce y,
or A. J la
Mailing Address: P.O. Box 1134, Kalispell, MT 59903 phone (406) 755-3208 fax (406) 755-3218