Council denies developer’s request to reduce Hillside Subdivision bond
A developer asked the council to reduce the cash bond/letter of credit for Hillside Subdivision to free funds to finish off-site water work; after extended questioning about remaining work, bonding levels and city protection, council voted to decline the bond-reduction request.
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A developer seeking a reduction to the performance bond for the Hillside Subdivision asked the council to release additional funds so he could complete off-site water work, gas hookups and sidewalks. He said material prices have fallen and that he could complete the crossing over a nearby hollow within weeks if funds were released.
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