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Council to accept Canvas at Valor Acres Phase 2 subdivision escrow agreement; staff outlines escrow and bonding schedule
Summary
Council moved May 20 to reintroduce and advance for first reading the resolution accepting subdivision and escrow agreements for Canvas at Valor Acres Phase 2 after staff outlined escrowed amounts and bonding steps.
The council reconsidered and advanced a resolution (first reading moved May 20) accepting subdivision and escrow agreements for Canvas at Valor Acres Phase 2 residential development.
City staff explained the agreements outline staged financial guarantees and bonding for public improvements. Staff said the contractor will fund the intermediate pavement course prior to plat recordation; at the time of recordation the…
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