HomeMy WebLinkAboutCity Council Resolution 1990-781C=Tr OF FLMMDUTR
Pursuant to due call and notice thereof, a regular meeting of the
City Council of the City of Plymouth, Minnesota, was held on the 10th day of
December, 1990. The following members were present: _Mayor Bergman!
Councilmamhera Helliwell, Ricker, Vasillou, and Zitur
The following members were absent:None
er Vasiliou introduced the following Resolution and
moved its adoption:
RESOLUTION 90-781
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR CALIBER DEVELOPMENT
COMPANY FOR CHESHIRE BUSINESS CENTER II (89116) AND COMBINATION WITH CHESHIRE
BUSINESS CENTER I (89082), BOTH LOCATED AT 2600 FERNBROOK LANE
WHEREAS, a Site Plan for Caliber Development Company for Cheshire Business
Center II located at 2600 Fernbrook Lane was administratively approved on May
21, 1990; and,
WHEREAS, a Site Plan for Caliber Development Company for Cheshire Business
Center I located at 2600 Fernbrook Lane was administratively approved on
December 20, 1989; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $58,000 for Cheshire Business
Center II; and,
WHEREAS, a reduction of the Site Performance Guarantee to $48,000 was approved
under City Council Resolution 90-677; 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. 550356 in the amount of $48,000, which was submitted
to guarantee site improvements for Caliber Development Company for Cheshire
Business Center II located at 2600 Fernbrook Lane, to $9,000 to cover all
remaining site improvements for both Cheshire Business Center Phase I and
Phase iI including landscape materials survivability. All parking lot
improvements shall be completed by June 1, 1991.
The motion for adoption of the foregoing Resolution was duly seconded
by Councilmwmher Zitur , and upon vote being taken thereon,
the following voted in favor thereof: _Mayor Ber 'n, Councilmembern
He liwo 1, Ricker, Vasiliou, and Zitur
The following voted against or abstained None _
Whereupon the Resolution was declared duly passed and adopted.
(res/cc/89116.1)