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Council initiates $14.78 million bond for Stone Spring phase 2
Summary
The council approved initiation of a performance bond in the amount of $14,782,413.46 for Stone Spring development phase 2 to cover road paving, street lights and land-disturbance requirements; the planning commission had recommended initiation by 3–1.
Council voted to initiate a bond for Stone Spring development phase 2 totaling $14,782,413.46. Planner James explained the funds would cover performance-bond items such as road paving, street lights, and land-disturbance controls (silt fencing) and noted the planning commission recommended initiation by a 3–1 vote after review.
Staff clarified a question from the planning commission about the location of a parking lot and confirmed that the parking lot had been included in the phase 1 bond and is not part of the current initiation. A council member asked whether funds from phase 1 remain to cover that portion; staff responded that funds are still available under phase 1. A motion to initiate the phase 2 bond carried with recorded 'ayes.'
