HomeMy WebLinkAboutCity Council Resolution 1988-245CITY 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—TSt - day of Aeri1�, 1988. The
following members were present: Mayor Schne ec3-rr—Zouncilmenmbersa� s3Tlou, Ricci er
Zitur and Sisk e
following ers were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-245
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR TRAMMELL CROW COMPANY (87092)
WHEREAS, a Site Plan for Trammell Crow Company located at 13700 1st Avenue North was
approved under City Council Resolution No. 87-632; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Construction Loan in the amount of $385,000.00; and,
WHEREAS, the City Council on March 7, 1988, under Resolution No. 88-160 approved the
reduction to $282,900.00; 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 Construction
Loan in the amount of $282,920.00 which was submitted to guarantee site improvements
for Trammell Crow Company located at 13700 1st Avenue North, to $275,720.00.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, t e following
voted In f avor t ereo : ayor, neider, Councilmembers Vasiliou, Ricker, Zitur and
Sisk The following
voted against or a sta neNone Whereupon the
Resolution was declared duly passed an a opte