HomeMy WebLinkAboutA017 - Letter dated August 19, 2011 regarding Performance Bond for Completion of Arterial Street Lane on South 16th Street ;P�rog�rams
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Legal Department
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TO: Steve Schainker&David Brown
FROM: Doug Marek_ _
DATE: August 19, 2011
SUBJECT: Performance Bond for Completion of Arterial Street Lane on South 16th Street
This morning the City received a performance bond in an acceptable form to guarantee completion of
the additional arterial street lane on South 16th Street in the area of Campus Crest. The bond complies
with the conditions set by the City Council in Resolution 11-389, modifying the terms of the amended
Developer's Agreement for Grand Aspen Subdivision,4th Addition.
Under the modified terms,the City of Ames now may issue occupancy permits prior to completion of
the additional lane. Construction of the additional lane must be completed by October 1, 2011.