HomeMy WebLinkAboutCity Council Resolution 1987-638CITY 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 5th day of October , 1987. The
following members were present: Mayor Schneider, Councilmembers Zitur, Sisk, Vasiliou
and Crain The
following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 87-638
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR JOHN LAVANDER FOR PARKERS LAKE
BUSINESS CENTER (86126)
WHEREAS, a Site Plan for John Lavander, for Parkers Lake Business Center located at
15000 23rd Avenue North was approved under City Council Resolution No. 87-70; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $85,000.00; and,
WHEREAS, the City Council under Resolution No. 87-481 authorized the reduction of the
financial guarantee to $69,000.00; and,
WHEREAS, the City Council under Resolution No. 87-556 authorized the reduction of the
financial guarantee to $52,800.00; and,
WHEREAS, upon notice from the developer, City staff has inspected said site and
recommends reduction of the financial guarantee;
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 No., S-13699 in the amount of $52,800.00 which was submitted to guarantee site
improvements for John Lavander for Parkers Lake Business Center located at 15000 23rd
Avenue North to $14,675.00.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, the following
voted in favor thereof: 5 Ayes
The
vote against or abstained: None Whereuponthe
Resolution was declared duly passed and adopted.