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Commission recommends extension of Astoria performance letter of credit to August 2026
Summary
The commission recommended the Town Council extend the performance letter of credit for the Astoria subdivision to Aug. 18, 2026, with no reduction in the original posted amount (more than $6 million).
The Plan Commission on June 18 recommended the Town Council approve an extension of the performance letter of credit for the Astoria subdivision to Aug. 18, 2026. Town staff reported the developer, Lennar, requested a one-year extension with no reduction in the posted security, which the engineer said originally exceeded $6 million.
A commissioner moved to recommend the council extend the instrument; the commission approved the recommendation by roll call. Staff will forward the recommendation to the Town Council for final action.
