HomeMy WebLinkAboutCity Council Resolution 1989-652CITY 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 October , 19-0_ The following members were present:
Mayor Schneider. Councilmembers Vasiliou..Ricker, Zitur and Sisk
The following members were absent: Node
Councilmember Zitur introduced the following Resolution and
moved its adoption:
RESOLUTION 89- 652
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR OPUS CORPORATION FOR
SCHNEIDER USA (88146)
WHEREAS, a Site Plan for OPUS Corporation for Schneider USA located at 5905
Nathan Lane was approved under City Council Resolution 89-237; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $1,069,000; 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 $1,069,000 which was submitted to
guarantee site improvements for OPUS Corporation for Schneider USA located at
5905 Nathan Lane to $206,000.
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: Mayor Schneider, Councilmembers
Vaailiou. Ricker. Zitur and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.