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Village Board approves Hay Day developer agreement requiring public improvements and 120% security
Summary
The Cottage Grove Village Board on March 18 approved a development agreement with C.R. Cottage Grove Land LLC (Hay Day) that requires installation of streets, sewer, water, a multiuse path and a 120% letter of credit or bond to secure public improvements.
The Village Board of Trustees of Cottage Grove on March 18 approved a development agreement with C.R. Cottage Grove Land LLC for the Hay Day multifamily project, requiring the developer to install public improvements and provide financial security equal to 120% of the improvement cost.
The agreement, presented at the village hall and on Zoom, requires installation of a street extension, sewer, water and completion of a multiuse path within the…
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