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

[TownPlanner]

It is one of the acceptable forms unless you have a written prohibition of
it, from my experience they are easier to collect then bonds





Pamela Harding, AICP

Bolton Town Planner

663 Main Street

Bolton, MA 01740

Phone (978)779-3308

Fax (978) 779-5461



.



*From:* MassPlanners <massplanners-bounces at masscptc.org> *On Behalf Of *Gary
Bechtholdt via MassPlanners
*Sent:* Thursday, May 30, 2024 1:30 PM
*To:* massplanners at masscptc.org
*Subject:* [Massplanners] Subdivision -Letter of Credit (performance bond)



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



*WE MOVED!*

Our new address is:

*1679 PROVIDENCE ROAD*

*NORTHBRIDGE, MA  01534*

Building, Conservation, Health Department, Planning, & Zoning Board now
located in separate wing of new Fire Station. Those visiting municipal
offices shall *proceed up driveway (stay to far left)* parking available
front/side of building.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://masscptc.org/pipermail/massplanners_masscptc.org/attachments/20240530/87c94c47/attachment.htm>