HomeMy WebLinkAboutCity Council Resolution 1990-677CITY or FLUM 7
Pursuant to due call and notice thereof, a rear meeting of the
City Council of the City of Plymouth, Minnesota, was held on the J= day of
October, 199 The following members were present:
Coi•±cit +ers IL111wel1, Ri cker, Vasiliou, and Zitur
The following members were absent:-_ Bene
k4k
RIs#
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 90-677
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR CALIBER DEVELOPMENT
COMPANY (89116)
WHEREAS, a Site Plan for Cheshire Business Center II located at 2600 Fernbrook
Lane was administratively approved on May 21, 1990; and,
WHEREAS, the developer submitted the required Site lerforasnoe Guarantee in
the form of a Letter of Credit in the amount of $58,000; and,
WHEREAS, upon notice from the developer, City staff has inspected said site
and recommends reduction of the financial guarantee;
NOW, THZRZrORZ, BE IT HEREBY RESOLVED BY THZ CITY COUNCIL or TM CITY OF
PLYMOUTH, MINNESOTA, that it should and hereby does authorize the reduction of
the Letter of Credit #950356 in the amount of $58,000.00, which was submitted
to guarantee site improvements for Cheshire Business G`ntes Ii to $48,000.
The motion for adoption of the foregoing Resolution was duly seconded
by Couneilaambar vasi1iou _, and upon vote being taken thereon,
the following voted in favor thereof: �JayOt_�so, �Qs11iC�lLa __-
Helliwell, Ricker. V&&jjjQAj, alld_
The following voted against -r abstained___ __ate
Whereupon the Resolution was declared uuly passed and adopted.
(res/cc/89116)