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MEMO TO: Clerk -Administrator <br />Mayor and City Council <br />FROM: Building Inspector Rose <br />DATE: September 12, 1983 <br />SUBJECT: RELEASE OF LE'I'TER OF CREDIT REQUEST <br />Attached is o letter requesting a release of a letter of credit <br />for a development agreement which included the installation of a <br />short street and the development- of 14 single family lots. To date, <br />the road has been installed and accepted, with 13 of the 14 lots <br />developed with single family homes. The City has never released <br />securities for a development agreement unless the requirements have <br />been substantially met. <br />Please direct staff as to your decision on this matter. Thank you. <br />SAR/pf <br />Attachment <br />