HomeMy WebLinkAbout1-2016-03-16 Village Preserve-Security Reduction #1
3800 Laverne Avenue North • Lake Elmo • Minnesota 55042
Phone: (651) 747-3900 • Fax: (651) 747-3901 • www.lakeelmo.org
March 16, 2016
Craig Allen, Chief Manager
Gonyea Company
10850 Old County Road 15, Suite 200
Plymouth, MN 55441
Re: Village Preserve 1st Addition
Lake Elmo, Minnesota
Irrevocable Letter of Credit No. 320
Dear Mr. Allen:
We have reviewed and processed your request dated February 22, 2016 for a reduction in the security
for the Village Preserve 1st Addition in Lake Elmo, MN. At this time the Irrevocable Letter of Credit No.
320 may be reduced to $1,858,897. Please process the security reduction through the office of the Lake
Elmo City Clerk.
This represents a security reduction in the amount of 75% of the Sanitary Sewer and Watermain
security, 50% of the Storm Sewer security, and 18% of the Street Improvement security.
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