HomeMy WebLinkAboutCity Council Resolution 1992-076CITY OF PLYMOUTH
RESOLUTION 92-76
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR ROTTLUND HOMES FOR
LAKE CAMELOT VILLAS LOCATED AT THE WEST SIDE OF WEDGEWOOD LANE, NORTH OF YUCCA
LANE (89044)
WHEREAS, a Site Plan for Lake Camelot Villas was approved under City Council
Resolution 89-636; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Restrictive Covenant and cash in the amount of $215,162.60; 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 $117,038.60
reduction of the cash escrow, submitted to guarantee site improvements for
Lake Camelot Villas to a new total guarantee of $98,124.
Adopted by the City Council on January 27, 1992
(res/cc/89044:jw)