HomeMy WebLinkAboutCity Council Resolution 1991-185CITY 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 fit— day
of -1April 192j__ The following members were present:
May , Coimcilmem rs Helliwell, Ricker, Vasiliou, and Zitur
The fob of wing members were absent: None
Coimcilmember Vasiliou introduced the following Resolution and
moved its adoption:
RESOLUTION 91- 185
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR BOSSARDT CORPORATION
FOR INDUSTRIAL PARK BUSINESS CENTER JOINT VENTURE LOCATED AT 13310 INDUSTRIAL
PARK BOULEVARD (89065)
WHEREAS, a Site Plan for Industrial Park Business Center Joint Venture was
administratively approved under; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit #2949 in the amount of $206,949; and,
WHEREAS, a reduction of the Site Improvement Performance Guarantee to $25,000
for Industrial Park Business Center Joint Venture was approved under City
Council Resolution 90-110; and,
WHEREAS, a reduction of the Site Improvement Performance Guarantee to $22,000
for the Industrial Park Business Center Joint Venture was approved under City
Council Resolution 90-602; 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 a $13,243
reduction of the Letter of Credit No. #2949 which was submitted to guarantee
site improvements for Industrial Park Business Center Joint Venture to a new
total guarantee of $8,757 and an extension of the SIPA completion date to
May 31, 1992.
The motion for adoption of the foregoing Resolution was duly seconded
by =cilmember Helliwell and upon vote being taken thereon,
the following voted in favor thereof: Mayor Bergman, Councilmembers
Helljigall. Ricker, Vasiliou, and Zitur
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.
(res/jk/89065:jw)