HomeMy WebLinkAboutCity Council Resolution 1990-671CI`T'Y OF PLMIDUTH
Pursuant to due call and notice thereof, a regUlaX _ meeting of the
City Council of the City of Plymouth, Minnesota, was held on the 15th day of
October, 199_. The following members were present: Mayor Berge _
Co nci 7momhor• Helliwell, Ricker, Vasiliou, and Zitur
The following members were absent: None
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 90-671
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR WELSH CONSTRUCTION
(87131)
WHEREAS, a Site Plan for Vicksburg Apartments 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 amount of $288,090 and $145,000; and,
WHEREAS, the City Council, under Resolution 90-109, authorized the reduction
of Letter of Credit #73308 to $106,990 and Letter of Credit #73309 to
$108,750; 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 release of
the Letter of Credit #73308 in the amount of $106,990, which was submitted to
guarantee site improvements for Vicksburg Apartments.
The motion for adoption of the foregoing Resolution was duly seconded
by_ Counci lmeMber Vagi I in,:, _ , and upon vote being taken thereon,
the following voted in favor thereof: _ Mayor BerQmn, Councilmomhers
H ll i wel i , Ricker, Vasiliou, end Zitur _
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.
(res/cc/87131)