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Minutes for the Meeting of October 2, 1989 2 <br /> SUBDIVISION OF LAND <br /> 240. Carriage Drive. Woodhaven Realty: Mrs. Nordby reported the applicant <br /> has asked permission to provide surety for completion of the subdivision by a <br /> letter of credit instead of a passbook. Mr. Sorensen said he preferred that <br /> surety be held in the form of a passbook, but he understood that the statute <br /> specifically authorized letters of credit as a means to hold surety. On the <br /> motion of Mr. Sorensen, seconded by Mrs. Klauminzer it was voted 4-0: <br /> That the Planning Board accepts as surety, for the completion of the Car- <br /> riage Drive subdivision, a Letter of Credit from the Depositors Trust <br /> Company dated August 22, 1989 in the amount of $62,000. This Letter of <br /> Credit is accepted in place of Depositors Trust Company Passbook #402- <br /> 4354. <br /> That acceptance of this substitute form of surety does not change either <br /> the amount of surety, $62,000, which is needed, or the period of time, <br /> through August 1, 1990, for which the surety is provided, as determined by <br /> vote of the Planning Board on July 31, 1989. The amount of $62,000 has <br /> been determined to be sufficient through August 1, 1990 only. If the <br /> subdivision is not completed by that time, the amount of surety needed <br /> will have to be reevaluated to determine its relationship between the then <br /> applicable construction costs and the work remaining to be completed. If <br /> little or none of the work that remained, at the time $62,000 of surety <br /> was originally posted, is completed by August 1, 1990, and the current <br /> costs of the amount of work to be completed has increased, the amount of <br /> surety will be increased to reflect the costs of completing the work and <br /> the developer will be required to furnish additional surety to the <br /> Planning Board. <br /> That the Revenue Officer is authorized to release to R & T Development <br /> Corporation Depositors Trust Company Passbook #402-4354 and the signed <br /> withdrawal slip upon receipt of the August 22, 1989 Letter of Credit. <br /> RECOMMENDATIONS ON APPLICATIONS TO THE BOARD OF APPEALS <br /> 241. Applications for the Meeting of October 26. 1989: Mrs. Klauminzer gave <br /> an oral review of the following applications to the Board of Appeals: <br /> 16 King Street, Marilyn Ritholz, SP, to use a portion of a residence as an <br /> office to see private clients one day a week. The Board expressed concern <br /> over potential traffic problems because of the property's proximity to <br /> Wilson Farm. On the motion of Mrs. Klauminzer, seconded by Mrs. Uhrig, it <br /> was voted 3-1 (Mr. Sorensen voted in the negative) to not object to the <br /> granting of the special permit, provided the day the applicant sees <br /> clients remains Tuesday, which is the day Wilson Farm is closed, and a <br /> condition for approval is that there may be no on-street parking. <br /> The Board also agreed to make no comment on the following applications also <br /> scheduled to be heard on October 26, 1989. <br /> 675 Lowell Street, Burlington Village Associates, SP, to install 5 <br /> internally lit wall signs and to allow a secondary wall sign to be the <br /> same width as the principal wall sign at a new retail building in the <br />