HomeMy WebLinkAboutCity Council Resolution 1992-649CITY OF PLYMOUTH
RESOLUTION 92-649
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR ASSOCIATION OF FREE
LUTHERAN CONGREGATIONS LOCATED AT 3110 EAST MEDICINE LAKE BOULEVARD (91020)
WHEREAS, a Site Plan for Association of Free Lutheran Congregations was
approved under City Council Resolution 91-357; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $117,130; 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 $112,818
reduction of the Letter of Credit #315 which was submitted to guarantee site
improvements for Association of Free Lutheran Congregations to a new total
guarantee of $4,312.
Adopted by the City Council on October 26, 1992.