HomeMy WebLinkAboutCity Council Resolution 1993-186CITY OF PLYMOUTH
RESOLUTION 93-186
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR GREAT MIDWEST
CONSTRUCTION, INC. LOCATED AT THE SOUTHWEST CORNER OF PILGRIM LANE AND
LANCASTER LANE (90104)
WHEREAS, a Site Plan for Lancaster Apartments was approved under City Council
Resolution 91-126; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Certificate of Deposit in the amount of $$110,000; 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 $54,245
reduction of the Certificate of Deposit which was submitted to guarantee site
improvements for Lancaster Apartments to a new total guarantee of $55,755.
Adopted by the City Council on April 19, 1993.