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Board approves release of $88,500 performance security for Montgomery Place Apartments
Summary
The Village Board voted 6–0 to release the remaining $88,500 in performance security to Edward Rose after staff inspected public improvements and completed the maintenance period for the last two buildings.
The Montgomery Village Board voted unanimously on Aug. 11 to release the remaining $88,500 in performance security for Montgomery Place Apartments.
Staff reported that developer Edward Rose completed the maintenance period for the last two buildings and that village staff inspected the site. Public improvements were accepted, the bulk of the landscape bond was released earlier, and the remaining $88,500 held as performance security was recommended for release.
The board had no questions beyond staff’s inspection report and approved the resolution (Resolution 2025-026) to release the performance security, with the motion carrying 6–0.
Staff said winter-dead landscaping had been replaced and recommended approval of the bond release.
