CCR2021081-LOC-PEGARL LLP
COMMON COUNCIL – CITY OF MUSKEGO
RESOLUTION #081-2021
APPROVAL OF LETTER OF CREDIT REDUCTION FOR
PEGARL LLP
WHEREAS, PEGARL LLP entered into a Development Agreement with the City to
construct a development on Crowbar Drive across from the entrance to The Waters of
Lake Denoon Project; and
WHEREAS, A portion of the work associated with the public infrastructure has been
completed; and
WHEREAS, As a result thereof, the developer of PEGARL LLP 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 $29,263.00, leaving a remaining balance of $39,116.00.
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 Letter of Credit for PEGARL LLP be reduced from $68,379.00 to $39,116.00.
DATED THIS 14th DAY OF SEPTEMBER 2021.
SPONSORED BY:
FINANCE COMMITTEE
This is to certify that this is a true and accurate copy of Resolution #081-2021, which
was adopted by the Common Council of the City of Muskego.
Deputy Clerk
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