City of Cape Girardeau AgendaPacket Council Regular Session Agenda 2026-06-01
City Secures Baldwin Farms Improvements with Meyr Trust
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Description
The Cape Girardeau City Council is set to authorize a new Performance Guarantee Agreement with The Ryland R. Meyr Trust to secure completion of sidewalks and a permanent turnaround in Baldwin Farms Subdivision. The two-year agreement is backed by an irrevocable letter of credit totaling $332,237.40, based on City cost estimates for the public improvements.
Contract Details
Contract Amount
$332,237.40 (irrevocable letter of credit backing performance guarantee)
Vendor
RYLAND R. MEYR TRUST
Agency
City of Cape Girardeau city, MO
Contract Type
FACILITIES
Document Date
June 1, 2026
Contract Term
Two years from execution of the new Performance Guarantee Agreement
Renewal Info
New performance guarantee agreement replacing an expired prior agreement; valid for two years, after which the City may draw on the letter of credit if the developer has not completed the sidewalks and permanent turnaround.
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