[Massplanners] Subdivision -Letter of Credit (performance bond)

[Gary Bechtholdt]

Good Afternoon:

Curious to know of experiences with Letters of Credit as a performance security for a residential subdivision.

Having not dealt with this form of performance bond before -figure I would check in to see if municipalities still use and allow this form of surety?

Is a Planning Board obligated to use this type (Letter of Credit) if proposed by the Developer or can they opt for an alternative?

As always -any thoughts & insight is appreciated.

Thanks & take care,

-Gary

R. Gary Bechtholdt II
Planning & Community Development Director

Northbridge Community Planning & Development
Aldrich School -Town Hall Annex, 14 Hill Street
(508) 234-2447

Northbridge Memorial Town Hall
7 Main Street, Whitinsville, MA 01588
www.northbridgemass.org<http://www.northbridgemass.org/>

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NORTHBRIDGE, MA  01534
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