HomeMy WebLinkAboutCity Council Resolution 1991-655CITY OF PLYMOUTH
RESOLUTION 91-655
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR PHEASANT TRAIL INVESTORS
FOR PHEASANT TRAIL TOWNHOMES LOCATED SOUTH OF 53RD AVENUE NORTH AND EAST OF
XIMINES LANE (87107)
WHEREAS, a Site Plan for Pheasant Trail Investors for Pheasant Trail Townhomes
was approved under City Council Resolution 87-719; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $18,180; and,
WHEREAS, the City Council, under Reso k'tion 89-806, authorized the reduction
of the Letter of Credit to $5,500; 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 ONOTIO28871 in the amount of $5,500, which was submitted
to guarantee site improvements for Pheasant Trail Investors for Pheasant Trail
Townhomes.
Adopted by the City Council on October 21, 1991.