HomeMy WebLinkAboutCity Council Resolution 1988-630CITY 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 3rd day
of October, 19_L8 The following members were present:
Mayor Schneider Councilmembers Vasiliou Ricker, Zitur anti sick
The following members were absent: Non
Councilmember Sisk introduced the following Resolution and
moved its adoption:
RESOLUTION 88-630
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR TRAMMELL CROW COMPANY
(87092)
WHEREAS, the 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; and,
WHEREAS, the City Council on March 7, 1988, under Resolution No. 88-1160,
approved the reduction to $282,900; and,
WHEREAS, the City Council on April 18, 1988, under Resolution No. 88-245,
approved the reduction to $275,720; and
WHEREAS, upon notice from the developer, City staff has inspected the site and
recommends reduction of the financial guarantees;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA, that it should and hereby does authorize reduction of the
construction loan in the amount of $275,720 which was submitted to guarantee
site improvements for Trammell Crow Company located at 13700 1st Avenue North
to $48,000.
The motion for adoption of the foregoing Resolution was duly seconded by
Counrilmember Zitur , and upon vote being taken thereon, the
following voted in favor thereof: mayor Srhnpidpr. Cminrilmnmhars
asiliou Ricker. Zitur and ciab
The following voted against or abstained_ Nn"
-
Whereupon the Resolution was declared duly passed and adopted.