New construction up the hill from Weirs

Waterbaby · 09-25-2008, 07:56 PM

Quote:

Originally Posted by Seeker

Companies like that should be required to post a performance bond with the town so if they do go belly-up the town can recover enough funds to remedy runoff situations, etc...

I believe most, if not all towns in NH do have this requirement and the bond must be posted prior to any work on the site starts. However, and this is a huge however, the wording on the bond usually indicates that so much is for Step A, so much for Step B, etc. etc. etc. Once Step A is completed to the town's requirements for that particular subdivision, the developer can ask for a release of that percentage of the bond and so forth. Bond wording is usually precise as to what is being covered, also.

Usually, for the town to go after a portion of the bond for a circumstance such as this one, court action is needed and that in itself can be a very lengthy -- and expensive -- process, especially if that particular problem, i.e. drainage, has not been covered in the wording of the bond.

This, of course, is my understanding of how bonds work, at least in the town in which I live.

Pineedles · 09-25-2008, 08:21 PM

I believe you are right Waterbaby. Who can we ask in Government? Instead of endless debate, let's put the question to the decision makers. Post the qustion in the Laconia Times? Bring it up at a Town meeting? Sorry, I would love to ask the town council but I am not a citizen! A tax payer yes, a voter no.

NHskier · 09-25-2008, 09:12 PM

From my planning board days, the extent of bonding is typically limited to covering work the town would need to do should the developer fail to complete. For example, in a development that would include roads (construction and full paving, curbing if spec'ed), water and sewer utilities, perhaps drainage-related work like retention ponds or environmental impact work like silt barriers.

krm · 09-26-2008, 09:52 AM

If the developer wants to be able to sell the product before completion the AG requires a performance bond be in place. Depending on the type of development, it can vary for example in commercial applications many times a reclamation bond is all that is required, and a performance bond is required for what ever effects the towns well being. In a subdivision, the AG requires one, but the town also requires one so that the lot owner can pull a building permit before all the infrastructure is complete, it is a way of protecting the lot buyer. It should also be said that it doesn't have to be a bond it can be a LOC or cash.

Lakesrider · 10-01-2008, 07:05 PM

Someone should plant a new tree in the very middle of the mess. I drive by that place everyday. It looks horrible. Heck we should get a bunch of people together and go plant some trees in there.....

09-25-2008, 08:21 PM	#2
Pineedles Senior Member Join Date: Aug 2004 Location: Moultonborough & CT Posts: 2,549 Thanks: 1,074 Thanked 672 Times in 369 Posts	Let's ask I believe you are right Waterbaby. Who can we ask in Government? Instead of endless debate, let's put the question to the decision makers. Post the qustion in the Laconia Times? Bring it up at a Town meeting? Sorry, I would love to ask the town council but I am not a citizen! A tax payer yes, a voter no.

09-25-2008, 09:12 PM	#3
NHskier Senior Member Join Date: Aug 2006 Posts: 294 Thanks: 45 Thanked 37 Times in 34 Posts	From my planning board days, the extent of bonding is typically limited to covering work the town would need to do should the developer fail to complete. For example, in a development that would include roads (construction and full paving, curbing if spec'ed), water and sewer utilities, perhaps drainage-related work like retention ponds or environmental impact work like silt barriers. __________________ NHskier

09-26-2008, 09:52 AM	#4
krm Member Join Date: Apr 2007 Posts: 39 Thanks: 1 Thanked 0 Times in 0 Posts	Pre sales If the developer wants to be able to sell the product before completion the AG requires a performance bond be in place. Depending on the type of development, it can vary for example in commercial applications many times a reclamation bond is all that is required, and a performance bond is required for what ever effects the towns well being. In a subdivision, the AG requires one, but the town also requires one so that the lot owner can pull a building permit before all the infrastructure is complete, it is a way of protecting the lot buyer. It should also be said that it doesn't have to be a bond it can be a LOC or cash.

10-01-2008, 07:05 PM	#5
Lakesrider Senior Member Join Date: Jun 2007 Posts: 2,129 Thanks: 380 Thanked 1,016 Times in 345 Posts	Someone should plant a new tree in the very middle of the mess. I drive by that place everyday. It looks horrible. Heck we should get a bunch of people together and go plant some trees in there.....