HomeMy WebLinkAboutCity Council Resolution 1993-421CITY OF PLYMOUTH
RESOLUTION 93- 421
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR 918 PLYMOUTH PARTNERS
II FOR PROPERTY LOCATED AT ROCKFORD ROAD AND HIGHWAY 169 (90011)
WHEREAS, a Site Plan for 918 Plymouth Partners II was approved under City
Council Resolution 90-265; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $102,700; 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 $43,962.50
reduction of the bond, cash escrow, Letter of Credit #74793 which was
submitted to guarantee site improvements for 918 Plymouth Partners II to a new
total guarantee of $2,237.50.
Adopted by the City Council on August 2, 1993.
(res/cc/90011)
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