HomeMy WebLinkAboutCity Council Resolution 1992-599CITY OF PLYMOUTH
RESOLUTION 92- 599
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR PRIME/NEW HORIZON I
PARTNERSHIP FOR NEW HORIZONS DAY CARE CENTER LOCATED AT 10305 -6TH AVENUE NORTH
(88117)
WHEREAS, a Site Plan for New Horizons Day Care Center was approved under City
Council Resolution 88-745; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $80,400; and,
WHEREAS, the City Council, under Resolution 91-604, authorized the reduction
of the Letter of Credit to $2,475; 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 in the amount of $2,475, which was submitted to guarantee
site improvements for New Horizons Day Care Center.
Adopted by the City Council on October 5, 1992.