1964-3331r~~'
-~ Itr~
RESO.LUT ION N0. 3331
1
RESaLUT10N RELATING TO RELEASE OF CHECK ACCEPTED IN LIEU
OF BOND ON OFF-STREET PARKING. _
' LYNDALE BUIDERSa INCo
(NORTHWEST UNIT INVESTMENT C0.)
4825 MINNETONKA BLVDo g MINNEAPOLIS
LaCAtI'QMQ_ I :63(J'•I,-1525:-e3~5i:1~YNDALE AVENUE SOUTH
USEi FOUR 34 UNIT APARTMENT BUILgING8
WHEREASa LYNDALE BUILDERSa 1NCos 4825 MINNETDNKA BLVDos MINNEAPOLIS 16s MINNESOTAs
HA'D AN OFF*~STREET PARKING CONTRACT W{TW THIS VILLAGE RELATING TO 63'01~15b25 35 LYNDALE
AVENUE SOUTHg WWICH CONTRACT BEARS THE DESIGNATION OF CONTRACT N0o 7898 AND
WHEREASa tWE BOND ON THIS CONTRACT WAS RELEASED ON NOVEMBER 25THa 19E3a AND A CHECK
1
IN THE AMOUNT OF $5g000o00 (RECEIPT ND. 4609) WAS ACCEPTED FROM THE NORTHWEST UNBT INVEST
MEN t CO.g 4825 MINNETONKA BLVDog MINNEAPOLIS I6g MINN ESOTA~ TO GUARANTEE THE COMPLETION
OF THE RE MA ININQ WORK COVERED BY THE ABOVE REFERENCE CONTRACTg AND
WHEREAS9 SUCH OFF~STREET PARKING CONTRACT STIPULATED THE CONSTRUCTION OF CONCRETE
SIDEWALK ON 63RD STREET AND ON LYNDALE AVENUE ADJACENT TO THE PROPERTYs AND
WHEREAS, A 5t CONCRETE SIDEWALK HAS BEEN CONSTRUCTED ON 63RD STREET BUT DUE TO THE
WIDENING OF LYNDALE AVENUE CAN NOT BE CONSTRUCTED ON VILLAGE RIGMT°~OF4WAY ON LYNDALE
AVENUE' AND
WHEREASg THERE APPEARS TO BE NO JUSTIFICATION FOR REQUIRING SAID LYNDALE BUILDERSy
iNC• TO CONTINUE TO PROVIDE SECURITY ON THE PERFORMANCE OF SABD AGREEMENTo
NOW THEREFOREa BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICHFIELDp -
MI NNESOTAg A'S FOLLOWSS
THAT THE VILLAQE MANAGER tS HEREBY AUTWORIZED AND DIRECTED TO RETURN THE AMOUNT OL?
~5g000o00 BEING HELD IN ESCROW TO tHE ~NORTkNDEST~UNIT'~119VESTMENT GOos 4825 MINNETONKA
BLVQ;g MINNEAPOLIS 16g MINNESOTA.
ADOPTED BY THE VILLAGE COUNCIL OF THE VILLAGE OF RICNFIELD® MINNESOTAg THIS 23RD
1
` DAY DF NovEMBERg 1964.
ATTEST i
,,, ~ ~
VILLAGE C K