Subject:
Title
320 Nutley St SW Subdivision Performance Bond Reduction
Body
EXPLANATION AND SUMMARY:
Barry Schwartz requests a reduction of the performance bond for public improvements, to a two (2) year maintenance bond, in accordance with Vienna Code Sec. 17-65, associated with the subdivision known as the 320 Nutley St SW. The current bond expired September 17, 2019. All public improvements have been completed and DPW recommends that the bond, in the amount of $4,187.76, be reduced to a two (2) year maintenance bond at 10% ($418.78).
Strategic Plan Initiative: Vienna is a fiscally responsible community and an efficiently mobile community
Departmental Recommendation: Recommend approval
Finance Recommendation: Recommend approval
Purchasing Recommendation: N/A
Town Attorney Recommendation: Upon recommendation of the Director of Public Works, the Town Council may release or reduce the subdivision public improvement bond in its discretion.
Town Manager's Recommendation: I recommend the Town Council reduce the public improvement bond for 320 Nutley Street, SW subdivision to a two year maintenance bond, as presented.
Cost and Financing: N/A
Account Number: N/A
Decision Needed by This Date: 02/24/20
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to reduce the public improvement bond for the 320 Nutley St SW subdivision to a 2 year maintenance bond at 10% which expires September 17, 2021."
Or
Other action deemed necessary by Council.