Subject:
Title
344 Park St NE - Parcel 60, Ayrhill Subdivision Performance Bond Reduction Request
Body
EXPLANATION AND SUMMARY:
Evergreene Companies, LLC has requested a subdivision performance bond reduction for the completed improvements associated with the subdivision named Parcel 60, Ayrhill located at 344 Park Street NE. The improvements that have been completed have been inspected and approved by the DPW engineer.
DPW recommends the bond amount be reduced from the original $27,900 to the 10% two-year maintenance bond in the amount of $2,790.
Departmental Recommendation: Recommend approval of subdivision performance bond reduction.
Finance Recommendation: Recommend approval
Purchasing Recommendation: N/A
Town Attorney Recommendation: Upon the completion of required subdivision public improvements and the recommendation of the Department of Public Works, the Town Council may authorize the reduction of subdivision public improvement bond in its discretion.
Town Manager's Recommendation: I recommend approval the subdivision performance bond reduction for the bonded improvements for 344 Park St NE as presented.
Cost and Financing: N/A
Account Number: N/A
Decision Needed by This date: 02/25/2019
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to approve the subdivision performance bond reduction for the bonded improvements for 344 Park St NE subdivision to a two-year maintenance bond in the amount of $2,790.”
Or
Other action deemed necessary by Council.