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SHERWOOD ESTATES <br /> Earlier this week, Staff met with the general contractor who will be in charge of the <br /> Sherwood Estates development. Based on our discussions, it is anticipated that <br /> clearing and grubbing of the site as well as grading and pond construction will <br /> begin within the next few weeks. Installation of utilities and construction of the <br /> road will not occur until the Spring of 1995. Staff has been reviewing the <br /> Development Agreement with the City Attorney, City Engineer and Director of <br /> Public Works to ensure that all areas of construction are appropriately covered. <br /> Preliminary estimates for the cash surety required for commencement of the project <br /> are in the area of $130,000. This money would be held in escrow until such time <br /> as all public improvements associated with the project have been satisfactorily <br /> completed. <br /> Paul <br />