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CCR2021021-LOC-Will Rose Apartments COMMON COUNCIL – CITY OF MUSKEGO RESOLUTION #021-2021 APPROVAL OF LETTER OF CREDIT REDUCTION FOR WILL ROSE APARTMENTS LLC WHEREAS, Will Rose Apartments LLC entered into a Development Agreement with the City to construct the Will Rose Apartments; and WHEREAS, All the work associated with the public infrastructure has been completed; and WHEREAS, The developer of Will Rose Apartments LLC has submitted a request for a reduction to the Letter of Credit; and WHEREAS, The Public Works and Development Director has recommended that the Letter of Credit be reduced by $62,970.00, leaving a remaining balance of 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 Will Rose Apartments LLC be reduced from $62,970.00 to zero. RD DATED THIS 23 DAY OF FEBRUARY 2021. SPONSORED BY: FINANCE COMMITTEE This is to certify that this is a true and accurate copy of Resolution #021-2021, which was adopted by the Common Council of the City of Muskego. Deputy Clerk 2/21jmb