Council and developer agree interim escrow while town pursues letter‑of‑credit code change
Hinckley and developer Apex agreed that Apex will initially place funds in escrow for subdivision infrastructure while the town pursues a 2–3 month code amendment to allow irrevocable letters of credit; council conditioned allowing the developer’s engineer to inspect work on a signed limited-scope engagement.
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The Hinckley Town Council and representatives of developer Apex discussed options for financial assurances for public infrastructure on July 2, 2026. Council Member Ron Black and Town Attorney Todd Anderson said amending Hinckley Town Code 11.19.21 to permit Irrevocable Letters of Credit would take two to three months. Apex agreed to place funds initially into an escrow account while the town initiates an ordinance change to allow letters of credit.
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