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Md40RANDUH <br />Memo To :Mayor and City Council Members <br />From :Ric Minetor, Director of Public Works <br />Date :January 9, 1989 <br />Subject :Reduction of Development Bond for <br />Dailey Homes, Inc. - Dailey Knoll, Addition <br />Attached is n request from Dailey Homes, Inc. for a reduction of <br />their $30,00C development bond to $1,750. They have completed <br />installation of the water and sewer Sines; landscaping and street <br />repairs remain to be completed. I have reviewed the cost. figures <br />Mr. Thorson referenced in his letter and concur in his <br />calculations. Since the remaining items are significantly less <br />costly than the value of the bond, and since these items can not <br />!:e completed until later this spring, I recommend approval of the <br />request to reduce the development bond on this project. <br />