HomeMy WebLinkAboutCity Council Resolution 1992-386CITY OF PLYMOUTH
RESOLUTION 92- 386
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR RYAN CONSTRUCTION
COMPANY OF MINNESOTA, INC. FOR WATERFORD PARK PLAZA LOCATED AT REVERE LANE AND
6TH AVENUE NORTH (87027)
WHEREAS, a Site Plan for Waterford Park Plaza, was administratively approved
on September 9, 1988; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a bond in the amount of $811,500; and,
WHEREAS, the City Council, under Resolution 90-674, authorized the reduction
of the bond to $79,000; 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 Bond No. UL446290 in the amount of $79,000 which was submitted to
guarantee site improvements for Waterford Park Plaza.
Adopted by the City Council on Jily 6, 1992.