HomeMy WebLinkAboutCity Council Resolution 1989-805CITY 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 18th day
of December , 19-8L9 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 89-805
AUTHORIZING REDUCTION OF SITE PERFORW NCE GUARANTEE FOR CSM CORPORATION FOR
BASS LAKE HILLS TOWNHOMES (88060)
WHEREAS, a Site Plan for CSM Corporation for Bass Lake Hills Townhomes located
southeast of I-494 and County Road 47 was approved under City Council
Resolution 89-291; and
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $823,388;
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. 11515 in the amount of $823,388 which was submitted
to guarantee site improvements for CSM Corporation for Bass Lake Hills
Townhomes located southeast of I-494 and County Road 47 to $340,000.
The motion for adoptiin of the foregoing Resolution was duly seconded
by Councilmember Zitur , 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_I
Whereupon the Resolution was declared duly
passed and adopted.