HomeMy WebLinkAboutCity Council Resolution 1994-8350
CITY OF PLYMOUTH
RESOLUTION % - 83S
AUTHORMG REDUCTION OF SrM PERFORMANCE GUARANTEE FOR
MUM BUIMERS INC. PROPERTY LOCATED AT THE SOUTIHWEST
WTHRSWnON OF TRM TON LANE AND 44TH AYENUB NORTH. (93091)
WHEREAS, AS, a Site Plan Amendment for Prime Holders Inc. wu approved under City
Council Resolution 93-606; ands
Wi E BAS, the developer ubmitted the required Site Performaooe (guarantee in the
form of a Letter of Credit in the amount of $140,248.00, and,
WHEREAS, the City Council, under Resolution 94495, authorized the reduction of
the Letter of Credit to $23,684.00; and,
WHEREAS, upon notim from the developers City staff hu inspected said dte and
recommends reduction of the financial guarantee;
NOW, nWUlFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PLYMOUTH, MINNESOTA, that it should and hereby does authorize
a $21,309.00 reduction of the Latter of Credit which su submitted to guarantee site
b gwovmnmb for Prima Budden Inc. to a new toW guarantee of $2,375.00.
Adopted by the City Council on December 19, 1994