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Leacock board approves several letter‑of‑credit releases including partial release for clinic project
Summary
Supervisors unanimously approved multiple letter‑of‑credit releases on May 5, including a conditional release for Hoober Inc., release for Ephraim D. King (contingent on escrow), and a partial release for the Joint Community Care Center and Clinic for Special Children retaining $177,064.66.
The Leacock Township Board of Supervisors on May 5 approved several developer letter‑of‑credit (LOC) releases and partial releases tied to completed work and escrow conditions.
Supervisor James Donovan moved to approve a Letter of Credit release for Hoober Inc., 3452 Old Philadelphia Pike, in the amount of $344,122.09 conditioned on the developer providing a signed, sealed and recorded as‑built plan; the motion was seconded by Supervisor Carl Smucker and passed unanimously. The minutes specify the as‑built plan is a condition of the release.
The board also approved a release for Ephraim D. King at 34 Lesal Road for $54,963.10 provided Mr. King supplies an escrow check of $1,722.24 prior to the meeting; the minutes note the township received that money and the motion passed unanimously.
On a related item, supervisors approved a partial release of the Letter of Credit for the Joint Community Care Center and Clinic for Special Children (10 & 20 Community Lane): release of $755,703.73 with $177,064.66 retained. Supervisor Donald Gentzler made the motion, seconded by James Donovan; the motion passed unanimously.
The minutes record the approvals and retained security amounts but do not include detailed inspection reports or as‑built plan text; the board conditioned at least one release on submission and recording of an as‑built plan and required an escrow check in another case.
