HomeMy WebLinkAboutCity Council Resolution 1992-647CITY OF PLYMOUTH
RESOLUTION 92-647
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR LAUKKA-WILLIAMS
PARKERS LAKE FOR PARKERS LAKE NORTH 6TH ADDITION LOCATED AT THE NORTHWEST
CORNER OF SHENANDOAH LANE NORTH AND 18TH AVENUE NORTH (90066)
WHEREAS, a Site Plan for Laukka-Williams Parkers Lake for Parkers Lake North
6th Addition was approved under City Council Resolution 90-630; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $149,760; and,
WHEREAS, the City Council, under Resolution 92-194 authorized reduction of the
Letter of Credit to $71,420; 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 $50,780
reduction of the tetter of Credit NS400463 which was submitted to guarantee
site improvements for Parkers Lake North 6th Addition to a new total guarantee
of $20,640.
Adopted by the City Council on October 26, 1992.