HomeMy WebLinkAboutCity Council Resolution 1990-362CITY 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 18th day
of June , 1990 The following members were present: Mayor Bergman,
Councilmembers Helliwell, Ricker, Vasiliou, and Zitur
The following members were absent: None
Councilmember Vasiliou introduced the following Resolution and
moved its adoption:
RESOLUTION 90-362
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR HOYT DEVELOPMENT
COMPANY (89075)
WHEREAS, a Site Plan for Hoyt Development Company for the "6/61 Building" was
administratively approved by a letter dated November 9, 1989, and amended by
City Council Resolution 90-290; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $155,990; 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 in the amount of $155,990, which was submitted to
guarantee site improvements for the "6/61 Building" to $50,000.
The motion for adoption of the foregoing Resolution was duly seconded
b Cminrilmember Zitur and upon vote being taken thereon,
the following voted in favor thereof: Mayor Bergman, Councilmembers
Hp1liwC11, Ricker. Vasiliou and Zitur
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.