Ward Deep Claybolt, a representative for the Schwartz Crossing developer, asked the Public Works and Safety Board on Sept. 3, 2025, to rescind a board motion made July 7 to draw down more than $1 million in performance letters tied to incomplete punch-list items.
Deep Claybolt told the board the project's infrastructure work has proceeded in phases over about 10 years and that commercial and retail development remains under construction. He said the drawdown request stemmed from a misinterpretation of a date for drawdowns (2025 versus 2026) and asked the board to rescind the action so the developer could continue working toward completion.
The board did not record a new formal vote on the rescission during the Sept. 3 meeting. City staff and board members referenced a previously prepared punch list and the city's interest in ensuring infrastructure was completed correctly before releasing performance guarantees. Deep Claybolt acknowledged some unfinished work and said his side disagreed only with the size or timing of the drawdown.
Why it matters: performance guarantees secure public infrastructure work paid for by developers; drawing on letters reduces developer-held security and can slow or halt construction if not resolved. Deep Claybolt said nearby projects and planned retail and recreational uses remain dependent on resolving the issue.
City staff and the developer agreed to continue discussions. Deep Claybolt thanked the board and said the parties would be "working part of that call" to address outstanding items.
The board's minutes show no recorded amendment or final decision on rescinding the drawdown at the Sept. 3 meeting; the item remains open for further staff-developer coordination.