HomeMy WebLinkAboutCity Council Resolution 1991-438CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the
City Council of the City of Plymouth, Minnesota, was he d Fon the 5th day
of August , 19 91 The following members were present:
Maygr Aergnian,oun ilmembers Helliwell Ricker, Vasiliou, and Zitur
The following members were absent: None
CQuKilmember Zitur introduced the following Resolution and
moved its adoption:
RESOLUTION 91-438
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR CHESHIRE BUSINESS CENTER
I (89082) AND CHESHIRE BUSINESS CENTER II (89116) BOTH LOCATED AT 2600
FERNBROOK LANE
WHEREAS, a Site Plan for Cheshire Business Center I located at 2600 Fernbrook
Lane was administratively approved on December 20, 1989; and,
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 Performance Guarantee in
the form of a letter, of credit in the amount of $53,700 covering Cheshire
Business Center I; 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 and the site performance guarantee for Cheshire Business
Center I to $8,000 was approved under City Council resolution 90-676; and,
WHEREAS, a reduction in the site performance guarantee for Cheshire Business
Center II to $48,000 was approved under City Council resolution 90-677; and,
WHEREAS, a reduction in combination of the letters of credit to $9,000 was
approved under City Council resolution 90-781 and resolution 90-782; and,
WHEREAS, upon notice from the developer, City staff has inspected said site
and recommends release 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 number S50356 in the amount of $9,000, which was
submitted to guarantee site improvements for site improvements for Cheshire
Business Center I and II.
The motion for adoption of the foregoing Resolution was duly seconded
by QZacilmember Helliwell and upon vote being taken thereon,
the following voted in favor thereof: Mayor Bergman, Councilmembers
lielliwell, Ricker Vasiliou and Zitur
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.