HomeMy WebLinkAboutfinance memo bondreduction 12-14-10PLANNING DEPARTMENT MEMORANDUM
DATE: DECEMBER 23, 2010
TO: TERRY FAFARD
CC: PAM BONANNO
ATTORNEY HARRY HELLER
FROM: MARCIA A. VLAUN
RE: 9R BURLAKE, LLC
39 LOT CLUSTER SUBDIVISION
120 GAY HILL ROAD
ASSESSOR’S MAP 23 LOT 3
Please be advised that at the Planning & Zoning Commission’s meeting of December 14, 2010 the Commission voted to approve a bond reduction for the above-noted subdivision. The section
of the Commission’s meeting minutes when they approved the reduction is as follows:
9R Burlake, LLC: A Bond reduction request in the amount of $174,420.00 (45% of the original Bond Dime Bank Letter of Credit, $387,600.00) leaving a balance of $213,180.00.
A MOTION was made by COMMISSIONER PIENIADZ; SECONDED by COMMISSIONER SIRAGUSA to APPROVE the Bond reduction request in the amount of $174,420.00 (45% of the original Bond Dime Bank Letter
of Credit, $387,600.00) leaving a balance of $213,180.00. Discussion was held. Voice vote. 9-0-0 MOTION CARRIED.
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