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Council releases performance bonds, accepts street and keeps maintenance bonds in place
Summary
Holly Springs approved release of letters of credit and performance bonds for Pebblebrook Grove and Enclave at Edgewater, and voted to accept White Veil Circle into public maintenance; maintenance bonds will remain in place for Enclave at Edgewater.
The Holly Springs mayor and council approved several routine infrastructure actions Sept. 15, including release of letters of credit for Pebblebrook Grove, acceptance of White Veil Circle for public maintenance, and release of performance bonds for Enclave at Edgewater while retaining maintenance bonds.
Speaker 5 told the council the letters of credit related to Pebblebrook Grove covered landscaping, road performance and maintenance funds; the council moved and approved release of those instruments. The council also approved a resolution to accept White Veil Circle — a 1,743-foot street within Pebblebrook Grove — into the city-maintained street system after the developer met required improvements.
For Enclave at Edgewater, Speaker 5 described that the performance bonds being released covered final topping (road surface), sidewalks, landscaping and stormwater work; maintenance bonds will remain in place until the city confirms longer-term performance and warranty periods. The motions to approve these items carried unanimously.
The approvals free surety previously held by the city, but do not remove ongoing maintenance responsibilities that remain secured by separate bonds and will be monitored by city staff until expiration or release per standard procedures.
