CCR2021015-LOC Commerce Center
COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION #015-2021
APPROVAL OF LETTER OF CREDIT REDUCTION
FOR COMMERCE CENTER INDUSTRIAL LAND, LLC
WHEREAS, Commerce Center Industrial Land, LLC entered into a Development
Agreement with the City to construct a Spec Building #2 at the far east end of
Commerce Center Parkway located behind Walmart; and
WHEREAS, All the work associated with the public infrastructure has been completed;
and
WHEREAS, Commerce Center Industrial Land, LLC has submitted a request for a
reduction to its Letter of Credit; and
WHEREAS, The Public Works and Development Director and Finance Committee have
recommended that the Letter of Credit be reduced from $292,234.00 to zero.
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 Letter of Credit for Commerce Center Industrial Land, LLC be reduced from
$292,234.00 to zero.
TH
DATED THIS 9 DAY OF FEBRUARY 2021.
SPONSORED BY:
FINANCE COMMITTEE
This is to certify that this is a true and accurate copy of Resolution #015-2021, which
was adopted by the Common Council of the City of Muskego.
______________________________
Deputy Clerk
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