HomeMy WebLinkAboutCity Council Resolution 1987-482CITY OF PLYMOUTH
OP Pursuant to due call and notice thereof, a regular meeting of the Cit Council of the
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City of Plymouth, Minnesota, was held on the 20th day of July , 1987. The
following members were present: Mayor Schneider, Councilmembers Crain, Zitur. _
Vasiliou and Sisk The
following members were absent: ?gone
Councilmember Sisk introduced the following Resolution and moved its
adopt on:
RESOLUTION NO. 87-482
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR BOEMER BUILDING SYSTEMS, INC.
FOR ALLIED PLASTICS (86137)
WHEREAS, a Site Plan for Boemer Building Systems, Inc. for Allied Plastics, located at
3005 Ranchview Lane was approved under City Council Resolution No. 87-97; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
Letter of Credit in the amount of $192,000.00; and,
WHEREAS, the City Council on April 20, 1987, by Resolution No. 87-242, authorized the
reduction of the financial guarantee to $120,000.00; and,
WHEREAS, the City Council on May 18, 1967, by Resolution No. 87-310, authorized the
reduction of the finanacial guarantee to $96,600.00; and,
WHEREAS, the City Council on June 15, 1987, by Resolution No. 87-408, authorized the
reduction of the financial guarantee to $87,600.00; and,
WHEREAS, upon notice from the developer, City staff has inspected said site and recom-
mends reduction of the financial guarantee;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MIN-
NESOTA, that it should and hereby does authorize the reduction of the Letter of Credit
Na. 10219 in the amount of $87,600.00 which was submitted to guarantee site improve-
ents for Boemer Building Systems, Inc. for Allied Plastics located at 3005 Ranchview
Lane, to $10,000.00.