HomeMy WebLinkAboutCity Council Resolution 1990-602CITY Or PLMKMH
Pursuant to due call and notice thereof, a regular meeting of the
City Council of the City of Plymouth, Minnesota, was held on the 24th day of
g t y- , 1920 The following members were present: �;yor Berms-
Councilmembers Halliwell, Ricker, Vasiliou, and Zitur
The following members were absent: one
Councilmember Zitur introduced the following Resolution and
moved its adoption:
RESOLUTION 90-602
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR BOSSARDT CORPORATION
FOR INDUSTRIAL PARK BUSINESS CENTER JOINT VENTURE LOCATED AT 13310 INDUSTRIAL
PARK BOULEVARD (89065)
WHEREAS, a Site Plan for Industrial Park Business Center Joint Venture was
administratively approved; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit No. 2949 in the amount of $206,949; and,
WHEREAS, a reduction of the Site Performance Guarantee to $25,000 for the
Industria`. Park Business Center Joint Venture was approved under City Council
Resolution 90-110; 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 No. 2949 in the amount of $25,000, which was submitted to
guarantee site improvements for Industrial Park Business Center Joint Venture
to $22,000.
The motion for adoption of the foregoing Resolution was duly seconded
by_ayor Berriman , and upon vote being taken thereon,
the following voted in favor thereof: Mayor Bergman, Councilmemhers
Helliwell- Ricker, Vasiliou, and Zitur
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.