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Board accepts cash surety and will release lots for Old Stable Estates once bond received
Summary
The board accepted a cash surety estimate of $36,993.53 from the town engineer to cover remaining work at Old Stable Estates (Fontana Way) and voted to release the two requested lots when the full cash bond is received. Applicant agreed to submit the funds and staff will prepare lot‑release paperwork.
The Planning Board accepted the town engineer's estimate for remaining construction at Old Stable Estates (Fontana Way) and approved a resolution to release two lots once the full cash surety is posted.
Town engineer Greg Tanzy provided a cost estimate ($36,993.53) to cover outstanding work including wearing course paving, tack coats, ADA ramp repair, compaction testing, hydroseeding and right‑of‑way bounds/lot markers. The applicant asked to release one lot to facilitate a sale but ultimately agreed to post the full cash surety to allow both lots to be released without staged surety; the board voted to accept the full cash bond and to release the lots upon receipt.
Planning staff said recorded lot releases will be prepared once the cash surety is in hand and noted that the applicant may sign lot‑release paperwork at the planning office once the bond is posted. The roll call approving acceptance of the surety and authorizing lot release was unanimous.
