HomeMy WebLinkAboutCity Council Resolution 1989-470CITY 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 21st day
of August , 19 89 The following members were present:
Mayor Schneider. Councilmembers Vasiliou, Ricker, Zitur and Sisk
The following members were absent: None
_Councilmember Sisk introduced the following Resolution and
moved its adoption:
RESOLUTION 89-470
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR PRIME WEST I LIMITED
PARTNERSHIP (88059)
WHEREAS, a Site Plan for Prime West I Limited Partnership located at 10300
Sixth Avenue North was administratively approved on July 12, 1988; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $143,477; and,
WHEREAS, upon notice from the developer, City staff has inspected said site,
found all of the improvments had been completed 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. S-50175 in the amount of $143,477 which was submitted
to guarantee site improvements for Prime West I Limited Partnership located at
10300 Sixth Avenue North to $18,000.
The motion for adoption of the foregoing Resolution was duly seconded
by Cn.ncilmember Zitur , and upon vote being taken thereon,
the following voted in favor thereof: Mayor Schneider, Councilmembers
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.