HomeMy WebLinkAboutfinance memo bonds 2-18-10PLANNING DEPARTMENT MEMORANDUM
DATE: MARCH 18, 2010
TO: TERRY FAFARD
CC: PAM BONANNO
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 February 9, 2010 the Commission voted to approve the above-noted subdivision. The approved bond amounts are as
follows:
The developer shall post a performance bond in the amount of $387,600.00 and an E&S bond in the amount of $28,000.00 for Phase I of the project. The developer shall post a performance
bond in the amount of $657,000.00 and an E&S bond in the amount of $23,000.00 for Phase 2 of the project.
In accordance with section 3.7.1 of the Subdivision Regulations the developer shall post a construction inspection fee in the amount of $11, 752.00 for Phase I and $17,140.00 for Phase
2 of the project. Any portion of the fee not used shall be refunded to the developer.
Should you need anything further, please contact me.