HomeMy WebLinkAboutCity Council Resolution 1990-603CITY or ?LnIDUTH
Pursuant to due call and notice thereof, a regular meeting of the
City Council of the City of Plymouth, Minnesota, was held on the 2.4th day of
September , 194Q_, The following members were present: Mayor Bergman,
Councilm.._ra Helli we? 1, Ri ckerailiou, and Zitur
The following members were absent: None
Councilmember Zitiy, introduced the following Resolution and
moved its adoption:
RESOLUTION 90-603
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR OPUS CORPORATION FOR
NATHAN 54 CENTER LOCATED AT THE NORTHEAST CORNER OF 54TH AVENUE NORTH AND
NATHAN LANE (90001)
WHEREAS, a Site Plan for Nathan 54 Center was approved under City Council
Resolution 90-140; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $228,100; 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. 73716 in the amount of $228,100, which was submitted
to guarantee site improvements for Nathan 54 Center to $26,100.
The motion for adoption of the foregoing Resolution was duly seconded
byMayor Barge= , and upon vote being taken thereon,
the following voted in favor thereof: M$yor Bargm n, Councilmembers
Hel�fwall,. Ricker, Vasiliou4 and Zitur
The following voted against or abstained None
'Whereupon the Resolution was declared duly passed and adopted.