HomeMy WebLinkAboutCity Council Resolution 1992-502CITY OF PLYMOUTH
RESOLUTION 92- 502
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR QUANTUM DEVELOPMENT,
INC. FOR THE BEACON HEIGHTS SCHOOL LOCATED AT 12325 STATE HIGHEAY 55 (91032)
WHEREAS, a Site Plan for the former Beacon Heights School was approved under
City Council Resolution 91-362; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Certificate of Deposit in the amount of $15,792; 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 $4,927
reduction of the Certificate of Deposit for Quantum Development, Inc. which
was submitted to guarantee site improvements for the former Beacon Heights
School to a new total guarantee of $10,865.
Adopted by the City Council on August 31, 1992.
(res/cc/91032)