HomeMy WebLinkAboutCity Council Resolution 1989-511CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular greeting of the
City Council of the City of Plymouth, Minnesota, was held on the 11th day
Of Rantambpr , 19a4 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
"roved its adoption:
RESOLUTION 89-511
AUTHORIZING RELEASE OF SITE IMPROVEMENT PERFORMANCE GUARANTEE FOR CALIBER
DEVELOPMENT CORPORATION (88038)
WHEREAS, a Site Plan for Caliber Development Corporation located at 14405 21st
Avenue North was approved under Resolution 88-344; and,
WHEREAS, the developer submitted the required Site Improvement Performance
Guarantee in the form of a Letter of Credit in the amount of $70,000; and,
WHEREAS, the City Council under Resolution 88-865 authorized the reduction of
the financial guarantee to $20,000; and,
WHEREAS, the developer submitted two new financial guarantees in the amount of
$14,000 and $6,000; and,
WHEREAS, the City Council under Resolution 89-77 authorized the release of the
Letter of Credit for $14,000; 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 1390 in the mount of $6,000 which was submitted to
guarantee site improvements for Caliber Development Corporation located at
14405 21st Avenue North.
The motion for adoption of the foregoing Resolution was duly seconded
by rpunp imember 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