Common Contracts
1 similar Public Improvement Agreement contracts
From: Atty. Ashley Lehocky Date: December 11, 2020 Re: State Park Road Public Improvement Agreement – Financial GuaranteePublic Improvement Agreement • December 10th, 2020
The Public Improvement Agreement executed by the Town and State Park Road LLC conditions site plan, special exception approval and issuance of a building permit upon a financial guarantee in the form of a “Deposit Pledge Agreement.” Typically, our office would advise the Town to require a letter of credit. However, Scheirl offered and the Town Board approved the proposed “Deposit Pledge Agreement” earlier this year. That agreement, although new to our office, appeared to give the Town 100% authority to remove funds during the term of the note.
