HomeMy WebLinkAboutCity Council Resolution 1993-599CITY OF PLYMOUTH
RESOLUTION 93 - 599
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR
STUART CORPORATION FOR FERNBROOK TOWNHOME.S FOR PROPERTY
LOCATED AT THE INTERSECTION OF 44TH AVENUE NORTH AND
FERNBROOK LANE (91044)
WHEREAS, a Site Plan for Fernbrook Townhomes was approved under City Council
Resolution 91-587 and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the
form of a Letter of Credit in the amount of $112,000.00 and,
WHEREAS, upon notice from the developer, City staff has inspected said site and
recommends a 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 #173, which was submitted to guarantee site
improvements for Fernbrook Townhomes to a new total guarantee of $21,000.00.
Adopted by the City Council on October 4, 1993.
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