HomeMy WebLinkAbout2016-03-03 Savona 1st-Security Reduction #1
3800 Laverne Avenue North • Lake Elmo • Minnesota 55042
Phone: (651) 747-3900 • Fax: (651) 747-3901 • www.lakeelmo.org
March 2, 2016
Ms. Carole Toohey
Lennar
16305 36th Avenue N, Suite 600
Plymouth, MN 55446
Re: Savona 1st Addition
Lake Elmo, Minnesota
Irrevocable Letter of Credit No. 69601104
Dear Ms. Toohey:
We have reviewed and processed your request dated February 12, 2016 for a reduction in the security
for the Savona 1st Addition in Lake Elmo, MN. At this time the Irrevocable Letter of Credit No. 69601104
may be reduced to $2,144,399. This represents a reduction in the amount of $969,448; or 50% of the
Sanitary Sewer, Watermain, Street and Storm Sewer Improvements. Please process the security
reduction through the office of the Lake Elmo City Clerk.
Should you have any questions or require additional information, please call me 651.300.4264.
Sincerely,
John (Jack) W. Griffin, P.E.
City Engineer
cc: Clark Shroeder, Interim City Administrator
Julie Johnson, City Clerk
Cathy Bendel, Finance Director
Stephen Wensman, City Planner
J Griffin