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Staff describes use of performance sureties to finish incomplete site work; Richland Close used surety funds, larger Echelon/Lockwood Glen sureties under review
Summary
City staff described calling performance sureties to complete unfinished subdivision site improvements. Richland Close (4 lots) required about $55,000 of surety and left the city with an ~ $16,000 unbudgeted outlay; larger sureties for Echelon and Lockwood Glen total approximately $630,000 and remain under evaluation.
City staff told the Board of Mayor and Aldermen that the city has used performance sureties to complete unfinished subdivision site work where developers failed to finish required improvements, and staff reviewed a recent example (Richland Close) and ongoing work on larger neighborhoods (Echelon and Lockwood Glen).
Vernon and Dylan described the performance‑surety process: developers post sureties to guarantee site improvements, and as of Jan. 1, 2023, the city holds…
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