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Court replaces $1.22M performance bond with $335,550 maintenance bond for Estates of Hidden Creek
Summary
The court approved releasing a $1,219,427.50 performance bond and accepting a $335,550 maintenance bond for the northern section of Estates of Hidden Creek; staff said the northern section is complete and that the southern portion was built first due to funding sequencing.
Ellis County commissioners approved replacing a $1,219,427.50 performance bond with a $335,550 maintenance bond for the northern section of the Estates of Hidden Creek subdivision (approx. 44.5 acres north of Stonebriar Drive and FM 387).
Alberto Maras told the court the northern section had been completed and that the bond replacement reflects that completion. "In this one, the applicant is requesting the release of the performance bond in the amount of $1,219,427.50 and then replace it with a maintenance bond for $335,550," Maras said. He noted the project was approved in November 2020 but funding sequencing required construction of the southern portion first.
Commissioners moved and seconded the item and approved it unanimously. Staff recommended acceptance of the maintenance bond and release of the performance bond; the county will record the change and proceed with normal maintenance oversight for the completed section.
