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--></style></head><body lang="EN-US" link="#467886" vlink="#96607D" style="word-wrap:break-word"><div class="WordSection1"><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">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</span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> </span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> </span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Pamela Harding, AICP</span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Bolton Town Planner</span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">663 Main Street </span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Bolton, MA 01740</span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Phone (978)779-3308</span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Fax (978) 779-5461</span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> </span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">. </span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> </span></p><div><div style="border:none;border-top:solid #e1e1e1 1.0pt;padding:3.0pt 0in 0in 0in"><p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif">From:</span></b><span style="font-family:"Calibri",sans-serif"> MassPlanners <<a href="mailto:massplanners-bounces@masscptc.org">massplanners-bounces@masscptc.org</a>> <b>On Behalf Of </b>Gary Bechtholdt via MassPlanners<br><b>Sent:</b> Thursday, May 30, 2024 1:30 PM<br><b>To:</b> <a href="mailto:massplanners@masscptc.org">massplanners@masscptc.org</a><br><b>Subject:</b> [Massplanners] Subdivision -Letter of Credit (performance bond)</span></p></div></div><p class="MsoNormal"> </p><p class="MsoNormal">Good Afternoon:</p><p class="MsoNormal"> </p><p class="MsoNormal">Curious to know of experiences with Letters of Credit as a performance security for a residential subdivision. </p><p class="MsoNormal"> </p><p class="MsoNormal">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?</p><p class="MsoNormal"> </p><p class="MsoNormal">Is a Planning Board obligated to use this type (Letter of Credit) if proposed by the Developer or can they opt for an alternative?</p><p class="MsoNormal"> </p><p class="MsoNormal">As always -any thoughts & insight is appreciated.</p><p class="MsoNormal"> </p><p class="MsoNormal">Thanks & take care,</p><p class="MsoNormal"> </p><p class="MsoNormal">-Gary </p><p class="MsoNormal"> </p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">R. Gary Bechtholdt II</span><span style="font-family:"Calibri",sans-serif"></span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Planning & Community Development Director </span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> </span></p><p class="MsoNormal"><b><span style="font-family:"Calibri",sans-serif;text-transform:uppercase">Northbridge Community Planning & Development</span></b><span style="font-family:"Calibri",sans-serif"></span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Aldrich School -Town Hall Annex, 14 Hill Street</span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">(508) 234-2447</span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> </span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">Northbridge Memorial Town Hall</span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif">7 Main Street, Whitinsville, MA 01588</span></p><p class="MsoNormal"><a href="http://www.northbridgemass.org/"><span style="font-family:"Calibri",sans-serif;color:blue">www.northbridgemass.org</span></a><span style="font-family:"Calibri",sans-serif"> </span></p><p class="MsoNormal"><span style="font-family:"Calibri",sans-serif"> </span></p><p class="MsoNormal"><b><span style="color:#156082">WE MOVED!</span></b></p><p class="MsoNormal">Our new address is:</p><p class="MsoNormal"><b>1679 PROVIDENCE ROAD</b></p><p class="MsoNormal"><b>NORTHBRIDGE, MA 01534</b></p><p class="MsoNormal"><span style="font-size:10.0pt">Building, Conservation, Health Department, Planning, & Zoning Board now located in separate wing of new Fire Station. Those visiting municipal offices shall <u>proceed up driveway (stay to far left)</u> parking available front/side of building.</span></p><p class="MsoNormal"> </p></div></body></html>