HomeMy WebLinkAboutCity Council Resolution 1990-109CITY OF PLYMOUTH
Pursuant to due c..1 and notice thereof, a _ regular
City Council of the City of Plymouth, Minnesota, was held on
of February , 19 90 The following members were present:
Mayor Bergman, Councilmembers Helliwell, Ricker, Vasiliou, and
The following members were absent: None
meeting of the
the 8th day
i tur
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 90-109
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEES FOR WELSH CONSTRUCTION
FOR VICKSBURG APARTMENTS (87131)
WHEREAS, a Site Plan for Welsh Construction for Vicksburg Apartments located
north of Plymouth Boulevard and Rockford Road was approved under City Council
Resolution 88-188; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of two letters of credit in the amounts of $288,090 and $145,000;
and,
WHEREAS, upon notice from the developer, City staff has inspected said 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 the reduction of
Letter of Credit #73308 in the amount of $288,090 and Letter of Credit #73309
in the amount of $145,000 which were submitted to guarantee site improvements
for Welsh Construction for Vicksburg Apartments located north of Plymouth
Boulevard and Rockford Road to $106,990 and $108,750 respectively.
FURTHER, that said reductions are on the condition that stop signs be
installed consistent with the approved site plan at driveway access points to
Rockford Road and Vicksburg 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 Bergman, Councilmembers
Helliwell. Ricker. Vasiliou. and Zitur
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.