HomeMy WebLinkAboutCity Council Resolution 1992-291CITY OF PLYMOUTH
RESOLUTION 92- 291
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR BOSSARDT CORPORATION FOR
INDUSTRIAL PARK BUSINESS CENTER JOINT VENTURE LOCATED AT 13310 INDUSTRIAL PARK
BOULEVARD (89065)
WHEREAS, a Site Plan for Bossardt Corporation for Industrial Park Business
Center Joint Venture was administratively approved; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit #2949 in the amount of $206,949; and,
WHEREAS, a reduction of the Site Improvement Performance Agreement Guarantee
to $25,000 for Industrial Park Business Center Joint Venture was approved
under City Council Resolution 90-110; and,
WHEREAS, a reduction of the Site Improvement Performance Agreement Guarantee
to $22,000 for Industrial Park Business Center Joint Venture was approved
under City Council Resolution 90-602; and,
WHEREAS, a reduction of the Site Improvement Performance Agreement Guarantee
to $8,757 for Industrial Park Business Center Joint Venture was approved under
City Council Resolution 91-185; 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 Cash in the amount of $8,757, which was submitted to guarantee site
improvements for Bossardt Corporation for Industrial Park Business Center
Joint Venture.
Adopted by the City Council on May 18, 1992.
(res/cc/89065)
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