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Commission instructs staff to call $451,089 site surety for inactive Connect 55 project
Summary
The Planning Commission directed staff to call the letter of credit and use the site surety to stabilize an inactive Connect 55 construction site after the bank declined to renew the letter of credit.
The Gallatin Planning Commission voted to instruct staff to call a site surety for Connect 55 after staff reported the site has been inactive for more than eight months and the issuing bank would not renew the letter of credit.
Staff summary and rationale Planning staff said the site had not been completed or stabilized as required by the approved plans. The developer’s bank notified the city that it would not renew the letter of credit. Staff recommended calling the letter of credit so the city could use the funds to complete stabilization work and prevent runoff onto adjacent properties.
Key specifics - Surety amount: $451,089.12 (staff reported the letter of credit value in the meeting). - Scope of corrective work: staff indicated work would include stabilization and minor grading to control runoff and address temporary sediment leaving the lot; staff had obtained preliminary quotes to include work to remedy impacts to adjacent properties.
Motion and outcome Motion: instruct staff to call the surety. Motion made by Commissioner Pereira; seconded (second recorded). All those in favor said aye; the commission approved the action.
What happens next Staff will issue the notice to call the letter of credit and use the site surety to stabilize the property and address any affected adjacent properties; the city will solicit quotes and proceed under its established surety procedures.
