CCR2023.077-Glen at Muskego Lakes_SIGNEDCOMMON COUNCIL — CITY OF MUSKEGO
RESOLUTION #077-2023
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 a good portion 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, The Glen of Muskego Lakes, 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 $24,248.09, leaving a remaining balance of $120,287.01.
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 $144,535.10 to $120,287.01.
DATED THIS 12th DAY OF DECEMBER 2023.
SPONSORED BY:
FINANCE COMMITTEE
This is to certify that this is a true and accurate copy of Resolution #077-2023, which
was adopted by the Common Council of the City of Muskego.
City erk
12/23cmc