Councilors consider requiring performance bonds for future Springfield developments
Committee members asked the law department whether the city can require performance bonds or other guarantees to prevent future projects from being abandoned or left blighted; the city attorney said bonds are typical for new construction but would require legal research to apply retrospectively.
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Councilor Brown pressed the committee to adopt tools preventing developers from leaving projects unfinished, saying the city should not allow repeat problems to persist. He raised the possibility of requiring financial assurances up front for major upcoming projects.
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