HomeMy WebLinkAboutCity Council Resolution 1985-897CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the City Council of
the City of Plymouth, Minnesota, was held on the 4th day of November 1985.
The following members were present: Mayor Davenports Councilmembers Neils,
,
Schneider, Crain and Vasiliou
The following members were absent: none r
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Councilmember Vasiliou introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 85-897
AUTHORII_ING REDOCTION OF SITE PERFORMANCE GUARANTEE FOR AIRPORT BUSINESS PARTNERS
(95008)
WHEREAS, a Site Plan f,,r Airport Business Partners located on property at the southwest
corner of 23rd ,Avenue and Fernbrook Lane was approved under City Council Resolution
No. 85-222; and,
WHEREAS, the developer submitted the required Site Performance Guaraotee in the form of
a Bond and a Letter of Credit in the amount of $28,500.00 and $171,500.00 respectively;,
and,
WHEREAS, upon notice from the developer, City staff has inspected said site and
recommends reduction of the Letter of Credit;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA, that it should and hereby does authorize the reduction of the Letter of
Credit in the amount of $171,500.00 which was submitted to guarantee site improvements
for Airport Business Parnters for property at the southwest corner of 23rd Avenue and
Fernbrook Lane, to $41,000.00.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Schneider *and upon vote being taken thereon, the
following voted in favor thereof: Mayor Davenport, Councilmembers Neils,
Schneider, Crain and Vasiliou
The following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adopted.