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Board releases $75,000 performance guarantee for Sturtevant Street subdivision
Summary
After engineering sign-off and completion of punch-list items, the Planning Board released the $75,000 performance guarantee for the Sturtevant Street subdivision (Concord Pastures LLC) and waived the additional 20% retention requested by ordinance.
The Planning Board voted Aug. 19 to release a $75,000 performance guarantee for the Sturtevant Street definitive subdivision (Concord Pastures LLC). Engineer Robert Griffin reported that construction of the road and associated infrastructure is complete, houses are built and occupied, inspection punch lists were satisfied and remaining minor items (outlet hoods) were installed.
Why it matters: Releasing the performance guarantee closes the city’s construction oversight and accepts the work as complete after engineering inspection.
Action and outcome: The planning department and city engineering recommended release after confirming the work, including required outlet hoods for stormwater, had been completed. The board voted 8–0 to release the entire performance guarantee rather than retaining the 20% (approximately $15,000) for the statutory 18-month warranty period.
Ending: The applicant will be notified and the bond release processed through the city finance and engineering departments.
