Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Maintenance Bond Release topic
No spam. Unsubscribe anytime.
Board approves release of maintenance bond for Shorewood Town Center Phase 4
Summary
After reinspection and developer curb repairs, the Village Board approved release of the two-year maintenance bond for Shorewood Town Center 1, Phase 4 — a bond held at just under $82,000 — returning funds to the developer and conveying the public improvements to the village.
Community development staff reported that public improvements for Shorewood Town Center 1 Phase 4 were completed in December 2021 and that staff reinspection found only a few curb repairs, which the developer remedied. Staff recommended releasing the two-year maintenance bond currently held at just under $82,000.
At the board meeting, a trustee moved to release the maintenance bond and the motion was seconded; the board approved the resolution by roll call, returning the bond funds to the developer and confirming the improvements will be accepted by the village.
"As we near January, we went out and reinspected to make sure everything was in good shape… the developer went out there and took care of those curb repairs," Community development staff member Natalie Engel said, summarizing the inspection and corrective work. The board did not attach additional conditions to the release.
