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<span style="font-family: helvetica; font-size: 12pt;">Only 1 specific experience, but have you considered using developer providing stock held under an escrow agreement by a trusted attorney? Theoretically doesn't cost the developer anything (they actually benefit from any dividends or stock price growth) but provides security to Town if properly drawn up.</span>
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<span style="font-family: helvetica; font-size: 12pt;">Tom Fudala</span>
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On 06/28/2022 6:00 PM Bill Nemser via MassPlanners <massplanners@masscptc.org> wrote:
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<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">Hello planners,</span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;"> </span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">I'm wondering if any of you have worked on a project where you required a construction bond where the bond was tied to the completion of the actual project. Typically, when I have required bonding for project, it's for infrastructure improvements etc. In this case, local leadership is concerned by concessions requested of the town by the developer and wants to ensure the project is constructed as presented.</span></p>
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<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">If you've utilized something like this could you please let me know some of the details? Off hand I would be interested in</span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;"> </span></p>
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<li style="margin-left: 0in; mso-list: l0 level1 lfo1;" class="MsoListParagraph"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">What is a general description of the project?</span></li>
<li style="margin-left: 0in; mso-list: l0 level1 lfo1;" class="MsoListParagraph"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">What was the bond amount? </span></li>
<li style="margin-left: 0in; mso-list: l0 level1 lfo1;" class="MsoListParagraph"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">What was the factor that made you request a construction completion bond?</span></li>
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<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">Any other info would be welcome.</span></p>
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<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">Thank you!</span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;"> </span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">Bill</span></p>
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<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">Bill Nemser, AICP, LEED AP</span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">Planning Director</span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">Office of Municipal Services</span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;">Town of Maynard</span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;"><a><span style="color: windowtext; text-decoration: none;">195 Main Street</span></a></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;"><a><span style="color: windowtext; text-decoration: none;">Maynard, Ma. 01754</span></a></span></p>
<p class="MsoNormal"><span style="font-size: 12.0pt; font-family: 'Gadugi',sans-serif;"><a href="tel:(978)%20897-1302"><span style="color: windowtext; text-decoration: none;">(978) 897-1302</span></a></span></p>
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