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Trappe council approves release of $379,313 letter of credit for Dollar General
Summary
The council unanimously approved releasing Dollar General's $379,313 letter of credit after Administrator Braband said the secured items remain the property owner's responsibility and GMB had no objection because the items are complete.
Curtis Snyder requested that the town release Dollar General's letter of credit in the amount of $379,313.00. Town Administrator Erin Braband told the council the letter of credit secures items subject to the signed Public Works Agreement and remains the property owner’s responsibility; engineering firm GMB "has no objection to the release of the letter of credit as all items are complete," according to the meeting record.
On a motion from Commissioner Michael Sullivan, seconded by Commissioner Jeremy Newnam, the council voted unanimously to release the letter of credit. The motion record in the minutes indicates the town will consider the physical improvements completed for the purposes of releasing that financial security; the minutes do not record any conditions attached to the release.
