CCR2021096-LOC-Glen at Musk Lakes
COMMON COUNCIL – CITY OF MUSKEGO
RESOLUTION #096-2021
APPROVAL OF LETTER OF CREDIT REDUCTION FOR
THE 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 Muskego Lakes Country Club; and
WHEREAS, A portion of the work associated with the public infrastructure has been
completed; and
WHEREAS, As a result thereof, the developer of The Glen at Muskego Lakes, 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 $1,257,010.70, leaving a remaining balance of
$2,742,989.30.
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 The Glen at Muskego Lakes, LLC be reduced from
$4,000,000.00 to $2,742,989.30.
DATED THIS 26th DAY OF OCTOBER 2021.
SPONSORED BY:
FINANCE COMMITTEE
This is to certify that this is a true and accurate copy of Resolution #096-2021, which
was adopted by the Common Council of the City of Muskego.
Clerk-Treasurer
9/21cmc