HomeMy WebLinkAboutCity Council Resolution 1991-605CITY OF PLYMOUTH
RESOLUTION 91-605
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR SUPER VALU STORES FOR
CUB FOODS (90057)
WHEREAS, a Site Plan for Cub Foods was approved under City Council Resolution
90-433; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $537,610; 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 $494,241
reduction of the Letter of Credit #73862 which was submitted to guarantee site
improvements for Cub Foods to a new total guarantee of $43,369.
Adopted by the City Council on October 7, 1991.
(res/cc/90057)