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Developer asks board to consider phased partial bond releases for Bridal Crown Estates
Summary
A developer representative asked the Tainesville Planning Board whether it would entertain two partial releases of a subdivision bond (after phases 1'2 and after final paving), saying $180,000 is currently on deposit. The board said it would only consider phased releases after town engineers inspect completed work and confirm retained-values.
A developer representative asked the Tainesville Planning Board on July 16 to consider allowing two partial releases of the performance bond for Bridal Crown Estates rather than a single, final release.
At the meeting the representative said the developer is proposing to break the remaining work into three phases, with the contractor prepared to complete phases 1 and 2 first and the paving work as a separate phase. He said about $180,000 is currently on deposit with the town and that the contractor would request a partial release only after the work for those phases is finished, inspected by town engineers and approved by the board.
"We're not actually asking for any release of those funds yet because we know work still has to be completed," the representative said, adding that the contractor hopes to do phases 1 and 2 in roughly three weeks and the paving in a further three to four days once a paver can be scheduled.
Board members agreed they would consider a phased approach only with written evidence and engineer verification. Several members repeatedly asked the developer to provide a clear timeline and to ensure the town engineer or TEC is on-site for any work that affects drainage, grading or roadway surfaces.
"I have no problem working with this," one member said, but added that he needed a detailed schedule and said he would not release money for incomplete work. Another member asked that the town engineer recalculate reasonable retainage values and unit prices before the board acted.
The developer acknowledged the board's regulatory limits, including the town's ability to retain a percentage of the bond for unfinished work and for engineering contingencies, and said he would submit contractor proposals and schedule follow-up inspections with TEC and the town engineer.
Next steps: the board asked the town engineer to review the new contractor proposals and to recommend an amount the town should retain if partial releases are requested. The developer said he would not submit a formal partial-release application until the work was completed and inspected.
No formal motion to change the bond-release process was made; the board's comments were advisory and conditioned on engineer verification and TEC inspection.
