HomeMy WebLinkAboutCity Council Resolution 1990-785CITY OF PLYMOUTH
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 DATy fin`
Cous+ci�*+*era Hellawall, Ricker, Vasiliou. and Zitur
The following members were absent: None
CQuacilmember Zitur introduced the following Resolution and
moved its adoption:
RESOLUTION 90-785
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEES FOR NORTHWOOD HOMES, INC.
FOR PONDS NORTH LOCATED AT THE NORTHWEST CORNER OF 54TH AVENUE NORTH AND
NATHAN LANE NORTH (87093)
WHEREAS, a Site Plan for Northwood Homes, Inc. for Ponds North was approved
under City Council Resolution 87-786; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of 16 Letters of Credit in the amount of $23,322 each; and,
WHEREAS, the City Council, under Resolution 89-472, authorized the reduction
of 5 Letters of Credit to $3,500 each; and,
WHEREAS, the City Council, under Resolution 89-651, authorized the reduction
of 6 Letters of Credit to $3,500 each; and,
WHEREAS, the City Council, under Resolution 90-675, authorized the reduction
and consolidation of the 16 Letter of Credit to $82,937; 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 in the amount of $82,937 which was submitted to guarantee
site improvements for Northwood Homes, Inc. for Ponds North located at the
northwest corner of 54th Avenue North and Nathan Lane North to $68,000.
The motion for adoption of the foregoing Resolution was duly seconded
by Councilmemba Vaa{l;ou , and upon vote being taken thereon,
the following voted in favor thereof: _mayor BergM&n; OouncilmembQrn
Helliwell. Ricker Vaeiliou, and Zit++r
The following voted against or abstained Nene
Whereupon the Resolution was declared duly passed and adopted.
(res/cc/87093)