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Bayport council includes Bay Haven letter‑of‑credit reduction on consent agenda
Summary
The council approved a consent agenda that included a motion to reduce the developer letter of credit for the Bay Haven subdivision; staff said the developer requested a 75% reduction while the city engineer calculated a 55% reduction, leaving $1,282,263 remaining.
Bayport City Council on Monday added a request from developer Pratt Homes to its consent agenda seeking to reduce the letter of credit for the Bay Haven development.
City staff said the developer’s request seeks a 75% reduction, while the city engineer’s review calculated a 55% reduction. "They're asking for 75% reduction. Our calculation is a 55% reduction," Matt said, and staff recommended the engineer’s figure be used, leaving a remaining letter of credit of $1,282,263. The item was included in the consent agenda and adopted as part of the consent resolution.
Why it matters: letters of credit secure city work on streets, water and sewer, storm infrastructure and landscaping when a developer has not completed construction; the remaining amount represents the city’s estimate of unfinished work that may require completion at public expense.
The motion to adopt the consent agenda passed on roll call with ayes recorded by council members and the mayor. A formal record of the consent agenda items will be part of the adopted minutes and consent resolution.
