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Planning Board approves subdivision amendment to allow letters of credit for High Pines Village
Summary
The Planning Board accepted a revision to the Villages of High Pine plan allowing letters of credit (in addition to cash escrows) as performance guarantees, with conditions for bank certification and enforcement if a letter lapses.
WELLS, Maine — At its March 17 meeting, the Wells Planning Board voted to accept a subdivision amendment for the Villages of High Pine that permits letters of credit as an option for performance guarantees.
Lou Chamberlain of Atar Engineering and Nicholas Hall (representing High Pines Village) presented the change to Note 12 of an existing approved plan to allow letters of credit in addition to cash escrow.…
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