HomeMy WebLinkAboutCity Council Resolution 1993-046CITY OF PLYMOUTH
RESOLUTION 92-46
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR WAGNER SPRAY TECH
LOCATED AT 1770 FERNBROOK LANE NORTH (91091) (92091)
WHEREAS, a Site Plan for Wagner Spray Tech was approved under City Council
Resolution 91-757 and an Administrative Approval Letter dated October 7, 1992;
and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Certificate of Deposit in the amount of $116,000; 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 a $111,000
reduction of the Certificate of Deposit which was submitted to guarantee site
improvements for Wagner Spray Tech to a new total guarantee of $5,000.
Adopted by the City Council on January 25, 1993.