HomeMy WebLinkAboutCity Council Resolution 1989-650CITY 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 16th day
Of nctnbar , 19_Bg__ The following members were present:
Mayor Schneider, Councilmembers Vasiliou, Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Zitur introduced the following Resolution and
moved its adoption:
RESOLUTION 89- 650
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR OSCAR NAUSTDAL FOR
HUMMINGBIRD COVE (87083)
WHEREAS, a Site Plan for Oscar Naustdal for Hummingbird Cove located at 10405
45th Avenue North was approved under City Council Resolution 87-617; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $124,460; and,
WHEREAS, the City Council under Resolution 88-846 authorized the reduction of
the Letter of Credit to $15,000; 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 in the amount of $15,000, which was submitted to
guarantee site improvements for Oscar Naustdal for Hummingbird Cove located at
10405 45th Avenue North to $4,000.
The motion for adoption of the foregoing Resolution was duly seconded
by Councilmember Sisk , and upon vote being taken thereon,
the following voted in favor thereof: Ma3,nr Schneider. Couacilmembers
Vzeiliou, Ricker, Zitur and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.