HomeMy WebLinkAboutCity Council Resolution 1993-794CITY OF PLYMOUTH
RESOLUTION 93 -794
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR
CALIBER DEVELOPMENT CORP. FOR PROPERTY LOCATED AT 14000 25TH
AVENUE NORTH (93058)
WHEREAS, a Site Plan for Caliber Development Corp. was approved by an
Administrative Approval Letter dated June 16, 1993; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the
form of a Letter of Credit in the amount of $94,000.00; and,
WHEREAS, the City Council, under resolution 93-700, authorized the reduction of the
Letter of Credit li 83335, to $46,500.00; 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 #83335, which was submitted to guarantee site
improvements for Caliber Development Corp. to a new total guarantee of $3,500.00.
Adopted by the City Council on December 20, 1993.