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Junius board keeps $60,000 escrow for Greenstreet Power after company asks to halve it
Summary
A Greenstreet Power representative asked the board to reduce escrow from $60,000 to $30,000; the board, citing a previous motion, unanimously declined and kept the $60,000 requirement.
Jim Kreidler, representing Greenstreet Power, informed the board that his supervisor was requesting a lower escrow amount be posted for the project. Kreidler said the request asked to reduce the escrow from $60,000 to $30,000. Supervisor Ernie Brownell reminded the board that members had passed a motion at the prior meeting to set the escrow at $60,000; the board recorded that it would maintain the $60,000 escrow requirement.
No amendment to the previously passed escrow motion was made and the minutes record the board's unanimous decision to keep the original escrow amount. The item was handled as a presentation/discussion and no further votes or conditions were recorded in the minutes beyond the board's agreement to retain $60,000.
