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Council approves three developer performance bonds totaling more than $7.7 million
Summary
Council approved performance bonds for three housing development phases: $1,886,150.95 (phase 11), $2,818,431.50 (phase 12) and $3,008,819.37 (phase 13), following planning commission and bond committee recommendations.
The Charles Town City Council voted to approve three developer performance bonds for ongoing housing developments, authorizing performance bonds for phase 11 ($1,886,150.95), phase 12 ($2,818,431.50) and phase 13 ($3,008,819.37). Staff said each application had been reviewed by the bond committee and the planning commission, both of which recommended approval.
A presenter described the amounts and committee recommendations: "This is a bond initiation in the amount of $1,886,150.95 for Newborn phase 11" and similar amounts were read for the Norborn phases. Councilors moved, seconded and approved each motion by voice vote with multiple 'ayes' recorded for each bond. Councilors noted the overall development will extend through multiple phases (planning staff said buildout would reach about phase 16).
