Developer says infrastructure maintenance guarantee will be dated when commission accepts work
Summary
Heath Sharp of Lake Erie Land Company told the board the company is still obtaining signatures on an infrastructure maintenance guarantee; board members said the guarantee should be dated to the commission's acceptance date and run for two years from that acceptance.
Heath Sharp of Lake Erie Land Company told the board the company is still gathering signatures for an infrastructure maintenance guarantee tied to a completed project. The developer asked whether the guarantee should be dated at tonight's meeting or at a later date; board members said they preferred the guarantee be dated to the commission's approval date, and that the two-year maintenance period should run from that acceptance.
"We're still getting signatures on the infrastructure," Heath Sharp said when describing the status of the guarantee. A board member said they had not seen the maintenance guarantee and recommended the guarantee be dated the date the commission approves acceptance so the two-year maintenance period would be calculated from acceptance rather than the filing date. The board agreed that, if acceptance occurs in October, the guarantee would be dated then and proceed for the two-year period from that date.
The board did not take a formal vote on acceptance at this meeting; the item was continued with instructions to bring a finalized guarantee to the October meeting for formal action.
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