HomeMy WebLinkAboutCity Council Resolution 1989-568CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a reQiilar meeting of the
City Council of the City of Plymouth, Minnesota, was held on the 25th day
of Septem--V---. 19,x_ The following members were present:
The following members were absent:
Councilmemher zitiir introduced the following Resolution and
moved its adoption:
RESOLUTION 89-568
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR 1501 PARTNERSHIP (87132)
WHEREAS, a Site Plan for 1501 Partnership located at 4100 Berkshire Lane was
approved under Resolution 88-98; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $85,000; and,
WHEREAS, the City Council under Resolution 88-698 authorized the reduction of
the Letter of Credit to $5,000; 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 No. A-1081 in the amount of $5,000, which was submitted
to guarantee site improvements for 1501 Partnership located at 4100 Berkshire
Lane.
The motion for adoption of the foregoing Resolution was duly seconded
by Councilmember sick , 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.