HomeMy WebLinkAboutCity Council Resolution 1988-631CITY 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 88 The following members were present:
Mavor Schneider. Councilmembers Va i7 o. Rinkpr, 7ir„r and RjAk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and
moved its adoption:
RESOLUTION 88-631
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR TRAMMELL CROW COMPANY
(87092)
WHEREAS, a Site Plan for Trammell Crow Company located at 13805 1st Avenue
North was approved under City Council Resolution No. 87-633; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a construction loan in the amount of $95,000; and
WHEREAS, the City Council on March 7, 1988, under Resolution No. 88-161,
approved the reduction to $83,400; and,
WHEREAS, the City Council on April 18, 1988, under Resolution No. 88-246,
approved the reduction to $81,600; 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 $81,600 which was submitted to
guarantee site improvements for Trammell Crow Company located at 13805 1st
Avenue North, to $12,100.
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 Va i1 ou.
Ricker, Zitur and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.