HomeMy WebLinkAboutCity Council Resolution 1989-074CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the
City Council of the City of Plymouth, Minnesota, was held on the 6th day
of February 19 89 The following members were present:
Mayor Schneider Council.members Vasiliou, Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and
moved its adoption:
RESOLUTION 89-74
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR FREEMANS INC. FOR
PLITT SHELARD (87116)
WHEREAS, a site plan for Freemans Inc. for Plitt Shelard located at 9900
Shelard Parkway was approved under City Council Resolution No. 88-76; and,
WHEREAS, the developer submitted the required site performance guarantee in
the form of a Letter of Credit in the amount of $248,000; 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 the reduction of
the Letter of Credit No. 114 in the amount of $248,000 which was submitted to
guarantee site improvements for Freemans Inc. for Plitt Shelard located at
9900 Shelard Parkway to $54,000.
The motion for adoption of the foregoing Resolution was duly seconded
by Councilmember Zitur , and upon vote being taken thereon,
the following voted in favor thereof: Mayor Schneider, Councilmembers
Vasiliou Ricker Zitur and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.