Town of Portsmouth Planning Board Meeting Agenda May 2026
Bond Release Request for Ferreira Avenue Road Work
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Description
The Portsmouth Planning Board agenda includes a request involving McCorrie Lane LLC for the Town Council to accept road construction on Ferreira Avenue and release a $425,000 subdivision bond. Release would be conditioned on posting a one-year maintenance bond equal to 5% of the surety bond and recording as-built plans.
Contract Details
Contract Amount
$425,000 subdivision bond; one-year maintenance bond equal to 5% ($42,500.00) of surety bond
Vendor
MCCORRIE LANE LLC
Agency
Town of Portsmouth, RI
Contract Type
CONSTRUCTION
Document Date
May 14, 2026
Contract Term
One-year maintenance bond following road acceptance
Renewal Info
Subdivision performance bond originally $850,000 reduced to $425,000 in 2022; proposed release conditioned on establishment of a one-year 5% maintenance bond.
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