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Developer says requested letter-of-credit language blocks plat progress at Hawks Ridge; commissioners ask prosecutor to review
Summary
A representative of Pulte Homes told the county commissioners during public comment that the letter-of-credit language required by the county engineers is unacceptable to the company's banks and requested assistance resolving the hold-up on the Hawks Ridge subdivision plat.
Jeremy Craig of Pulte Homes addressed the commissioners during public comment to ask for help resolving a letter-of-credit issue affecting the Hawks Ridge subdivision (South of the Square, Montville Township).
Craig said the developer has posted a bond for the first phase and received ODOT approval for necessary rights-of-way and turn lanes, but that the letter-of-credit language the county engineer's office is requesting has not been accepted by the company's banks. Craig said he provided the county engineer's office with the standard letter-of-credit language Bank of America uses nationally and asked staff to identify specific language changes that would allow issuance. He said the language as currently written is not acceptable to any of their banks.
Commissioners and staff replied that the issue has been sent to the prosecutor's office for review. County staff said they would check the status, work with the engineer and prosecutor, and attempt to contact the developer the same day to resolve the hold-up so construction can proceed before winter.
No formal action or vote was taken during public comment; commissioners directed staff to follow up with the prosecutor's office and the county engineer's office to expedite review.
