Subject:
Title
320 Nutley St SW Performance Bond Extension Request
Body
EXPLANATION AND SUMMARY:
On February 27, 2017 Town Council approved a two- lot subdivision at 320 Nutley Street SW. The current bond expires in September. Development on this parcel has not yet started. Developer Barry Schwartz requests an extension of the performance bond for public improvements, in accordance with Vienna Code Sec. 17-65, associated with the subdivision located at 320 Nutley St SW. Since all bonded public improvements are minor and will be completed with the house construction, DPW recommends that the bond be extended for an additional 18 months so that the remainder of public improvements can be completed.
Departmental Recommendation: Recommend approval.
Finance Recommendation: N/A
Purchasing Recommendation: N/A
Town Attorney Recommendation: Town Council may extend the time for completion of public improvements upon receipt of an updated estimate of the public improvement bond and payment of fee as set forth in Section 1-12 of the Town Code.
Town Manager's Recommendation: I recommend the Town Council extend the public improvement bond for the 320 Nutley Street Subdivision for an additional 18 months, as presented.
Cost and Financing: N/A
Account Number: N/A
Decision Needed by This Date: 09/17/2018
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to extend the public improvement bond for the 320 Nutley Street subdivision for an additional 18 months to expire March 9, 2020."
Or
Other action deemed necessary by Council.