CCR2023.045-LOC-Hrin InvestmentsCOMMON COUNCIL — CITY OF MUSKEGO
RESOLUTION #045-2023
APPROVAL OF LETTER OF CREDIT REDUCTION FOR
HRIN INVESTMENTS, LLC
WHEREAS, Hrin Investments, LLC entered into a Developer's Agreement with the City
to construct the development located on Parker Drive (Madyson Court) just south of the
Field of Dreams development; and
WHEREAS, The project has been progressing well and a large majority of the 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, Hrin Investments, LLC has submitted a request for a
reduction to its Letter of Credit; and
WHEREAS, The Public Works and Development Director has recommended that the
Letter of Credit be reduced by $44,688.00, leaving a remaining balance of $0.00.
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 Hrin Investments, LLC be
reduced from $44,688.00 to $0.00.
DATED THIS 25th DAY OF JULY 2023.
SPONSORED BY:
FINANCE COMMITTEE
This is to certify that this is a true and accurate copy of Resolution #045-2023, which
was adopted by the Common Council of the City of Muskego.
City Clerk
7/23cmc