HomeMy WebLinkAboutCity Council Resolution 1988-697CITY 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 17th day
of October, 19_88 The following members were present:
Mayor Schneider. Councilmembers Vasiliou. Ricker. Zitur and Sick
The following members were absent: None
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 88-697
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR CALIBER DEVELOPMENT
CORPORATION (88038)
WHEREAS, a Site Plan for Caliber Development Corporation located at 14405
21st Avenue North was approved under Resolution No. 88-344; and
WHEREAS, the Developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $70,000; 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 Number S-50136 in the amount of $70,000 which was
submitted to guarantee site improvements for Caliber Development located at
14405 21st Avenue North to $20,000.
The motion for adoption of the foregoing Resolution was duly seconded
by CounrilmembAr 7it��r , and upon vote being taken thereon,
the following voted in favor thereof: Mavnr Crhnoirdpr- rnsinrilmambora
`(aai1inai' Rirdrarr 74riir nnrd SiRk
The following voted against or abstained Nnn,
Whereupon the Resolution was declared duly passed and adopted.