HomeMy WebLinkAboutCity Council Resolution 1988-483CITY 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 15th day of August , 1988. The
following members were present: May Schneider,Z ouncilmembers Vasillou. Ricker,
Zitur and Sisk The
following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-483
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR OGREN PROPERTIES FOR "ROCKFORD
SQUARE" (85006)
WHEREAS, a Site Plan for Ogren Properties for "Rockford Square" located at 4400 Nathan
Lane was approved under City Council Resolution No. 85-199; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $73,619.00; and,
WHEREAS, the City Council under Resolution No. 86-801 authorized the reduction of the
financial guarantee to $7,000.00; and,
WHEREAS, upon notice from the developer, City staff has inspected 5d1d site and
recommends release 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 release of the Letter of Credit
No. 20-85 in the amount of $7,000.00 which was submitted to guarantee site improvements
for Ogren Properties for "Rockford Square" located at 4400 Nathan Lane.
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: Mayor Schneider, Councilmembers Vasiliou, Ricker,
Zitur and Sisk The following
voted against or abstained: None Whereupon the
Resolution was declared duly passed and adopted.