Council declines additional bond reduction request for Hillside Subdivision
After hearing a developer's request to reduce the bond to free funds to complete off-site water, gas and sidewalk work, the council — citing development-agreement requirements and insufficient assurance that remaining work would be covered — voted to deny the reduction request.
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A developer seeking a reduction in the Hillside Subdivision bond presented estimates and said he could complete off-site water work and other items if the council reduced the bond to release funds. He referenced bids and declining material prices as reasons the remaining work could be completed more cheaply than earlier estimates.
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