HomeMy WebLinkAboutCity Council Resolution 1991-604CITY OF PLYMOUTH
RESOLUTION 91-604
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR PRIME/NEW HORIZONS I
PARTNERSHIP (88117)
WHEREAS, a Site Plan for New Horizons Day Care located at 10305 -6th Avenue
North was approved under City Council Resolution 88-745; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $80,400; 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 $77,925
reduction of the Letter of Credit #1393 which was submitted to guarantee site
improvements for New Horizons Day Care to a new total guarantee of $2,475.
Adopted by the City Council on October 7, 1991.
(res/cc/88117)