Subject:
Title
301 & 303 Niblick Drive SE Subdivision Partial Bond Reduction Request
Body
EXPLANATION AND SUMMARY:
Dunhill Development, LLC has requested a partial bond reduction for the completed public improvements associated with the subdivision located at 301 & 303 Niblick Drive SE. The public improvements that have been completed have been inspected and approved by the DPW engineer.
DPW recommends the surety amount be reduced from the original $46,025.57 to $26,932.43 which will be held until the remainder of the public improvements are completed.
Departmental Recommendation: Recommend approval of partial bond reduction.
Finance Recommendation: Recommend approval
Purchasing Recommendation: N/A
Town Attorney Recommendation: Upon recommendation from the Director of Public Works, upon partial acceptance of public improvements, the Town Council may reduce the amount of a subdivision public improvement bond.
Town Manager's Recommendation: I recommend the Town Council approve the partial bond reduction for public improvements located at the 301 & 303 Niblick Drive SE subdivision to a surety amount to be held until the remainder of the public improvements are completed as presented.
Cost and Financing: N/A
Account Number: N/A
Decision Needed by This date: N/A
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to approve the partial bond reduction for public improvements located at the 301 & 303 Niblick Drive SE subdivision to a surety amount of $26,932.43 to be held until the remainder of the public improvements are completed."
Or
Other action deemed necessary by Council.