23-0419_DEVELOPMENT SOLUTIONS OAK, LLC_Staff MemoMEMORANDUM
City Clerk
April 19, 2023
TO:
FROM: Thomas Toman, Public Works Director
SUBJECT: Grading Performance Bond(s) Release for Precise & Rough Grading Permits
for The Oaks Subdivision (TR17441)
This memorandum is authorization to release 90% of the Grading Bond for the following
permits:
•B20-0785 (reinstated for B14-0941), Model Precise Grade
The total bond deposit was in the amount of $53,869, while the 90% to
be released is in the amount of $48,482.10.
•B20-0786 (reinstated for B14-0317), Production Precise Grading Phase 3
The total bond deposit was in the amount of $190,663, while the 90%
to be released is in the amount of $171,596.70.
•B20-0787 (reinstated for B14-0910), Production Precise Grading Phase 3B
The total bond deposit was in the amount of $250,797, while the 90%
to be released is in the amount of $225,717.30.
And 100% release of the Grading Bond for the following permits:
•B20-0782 (reinstated for B14-0176), Phase 1 Rough Grade
o The total bond deposit was in the amount of $649,682.
•B20-0783 (reinstated for B14-0177), Equestrian Precise Grade
o The total bond deposit was in the amount of $392,304.
•B20-0784 (reinstated for B14-0178), Phase 3 Rough Grade
o The total bond deposit was in the amount of $1,088,280.
Memorandum May 30, 2023
Page 2
The 90% and 100% releases of the subject Grading Bonds have been approved by the
Building Official.
Attachments – Copy of Grading Surety Agreement Performance Bonds
cc: City Clerk; file
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Bond #PB10163700298
Premium: $808.00
Philadelphia Indemnity Insurance Company
26
Precise Grading of Lots 2-4 at The Oaks Tract No 17441
26th March
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DEVELOPMENT SOLUTIONS OAK, LLC
PHILADELPHIA INDEMNITY INSURANCE COMPANY
Victoria M. Campbell, Attorney-in-Fact