HomeMy WebLinkAboutCity Council Resolution 1991-657CITY OF PLYMOUTH
RESOLUTION 91-657
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR HOYT DEVELOPMENT COMPANY
FOR THE "6/61 BUILDING" LOCATED AT 13400 -15TH AVENUE NORTH (89075) (90002)
WHEREAS, a Site Plan for Hoyt Development Company for the "6/61 Bu=lding" was
Administratively Approved by a letter dated November 9, 1989 and amended by
City Council Resolution 90-290; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $155,990; and,
WHEREAS, the City Council, under Resolution 90-362, authorized the reduction
of the Letter of Credit to $50,000; 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 #3668886-5799 in the amount of $50,000 which was
submitted to guarantee site improvements for Hoyt Development Company for the
"6/61 Building".
Adopted by the City Council on October 21, 1991.
(res/cc/89075)