Council declines additional bond reduction request for Hillside Subdivision
After reviewing contractor estimates, remaining work and the city's 110% bond policy, council voted to decline developer Corcoran's request for a further bond reduction, but discussed extension options for bond expiry and encouraged him to coordinate with staff.
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Developer Corcoran requested a reduction in his development bond to free funds to complete off-site water and other remaining improvements. Council reviewed detailed estimates for off-site water, a 12-inch bore across the hollow, gas-line costs and sidewalks, and heard Corcoran say he could complete many of the off-site items within weeks if funds were available.
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