HomeMy WebLinkAboutCity Council Resolution 1988-716CITY 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 19ss The following members were present:
Mayor Schneider, Councilmembers Vasiliou Ricker_ Zitur and Sisk
The following members were absent: None
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 88- 716
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR CALIBER DEVELOPMENT
CORPORATION (86126)
WHEREAS, a Site Plan for Caliber Development Corporation located at 15000 23rd
Avenue North was approved under City Council Resolution No. 87-70; and
WHEREAS, the Developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $85,000; and,
WHEREAS, the City Council under Resolution No. 87-481 approved the reduction
to $69,000; and,
WHEREAS, the City Council under Resolution No. 87-556 approved the reduction
to $52,800; and,
WHEREAS, the City Council under Resolution No. 87-638 approved the reduction
to $14,675; and,
WHEREAS, the City Council under Resolution No. 87-678 approved the reduction
to $6,000; and,
WHEREAS, upon notice from the Developer, City Staff has inspected said site
and recommends release of the financial guarantee;
NOW, THEREFORE, BE 1T 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 Number 1341 in the amount of $6,000 which :.,as submitted
to guarantee site improvements for Caliber Development located at 15000 23rd
Avenue North.
The motion for adoption of the foregoing Resolutioi was duly seconded
by CminrilmPmhnr 7irnr , and upon vote being taken thereon,
the following voted in favor thereof: _Maynr Schn. jJpr, r^u�ctl��.�r�
Vagi 1 i nti+ Ri rkpr, 71nir and Sisk
The following voted against or abstained !Hone
Whereupon the Resolution was declared duly passed and adopted.