CCR2022.069-LOC-Glen at Muskego Lakes
COMMON COUNCIL – CITY OF MUSKEGO
RESOLUTION #069-2022
APPROVAL OF LETTER OF CREDIT REDUCTION FOR
Glen at Muskego Lakes, LLC
WHEREAS, The Glen at Muskego Lakes, LLC entered into a Developer’s Agreement
with the City to construct The Glen of Muskego Lakes, LLC development on Loomis
Road adjacent to the Muskego Lakes Country Club; and
WHEREAS, The project has been progressing well and work associated with the public
infrastructure has been completed per the Development Agreement and to the
satisfaction of the Director of Public Works and Development; and
WHEREAS, As a result thereof, The Glen of Muskego Lakes, LLC has submitted a
request for another reduction to its Letter of Credit; and
WHEREAS, The Public Works and Development Director has recommended that the
Letter of Credit be reduced by $487,575.97, leaving a remaining balance of
$440,512.22.
NOW, THEREFORE, BE IT RESOLVED That the Common Council of the City of
Muskego, upon the recommendation of the Finance Committee, does hereby approve
that the current amount remaining on the Letter of Credit for The Glen at Muskego
Lakes, LLC be reduced from $928,008.19 to $440,512.22.
DATED THIS 23rd DAY OF AUGUST 2022.
SPONSORED BY:
FINANCE COMMITTEE
This is to certify that this is a true and accurate copy of Resolution #069-2022, which
was adopted by the Common Council of the City of Muskego.
Clerk-Treasurer
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