CCR2020085-Memo-Surety Bond-Muskego School Apts
Reports and Presentations to Finance Committee and Common Council
To: Finance Committee & Common Council
From: Scott Kroeger
Department: Public Works and Development
Subject: Release of Surety Bond for Muskego School Apartments, LLC
(Commonwealth)
Date: October 27, 2020
Muskego School Apartments, LLC (Commonwealth) entered into a Development
Agreement with the City for the development located at the old Muskego Elementary
School on Janesville Road. The work associated with water main for this project has been
completed in its entirety. The recommendation is to release the Surety Bond of $165,965.11.
The Surety Bond would be reduced from $165,965.11 to $0.
Key Issues for Consideration: Attachments
1. N/A
Recommendation for Action by Committee and/or Council: Approval that the Muskego
School Apartments, LLC Surety Bond in the amount of $165,965.11 be reduced to $0.00 and
released in its entirety.
Date of Committee Action: Finance Committee October 27, 2020
Planned Date of Council Action (if required): October 27, 2020
Total $ Needed: N/A
Fiscal Note(s): N/A
$ Budgeted: $0.00
Expenditure Account(s) to Be Used: # N/A
(3/2019)