FACILITIESPENDING

Mount Airy Town Council Agenda Packet May 4 2026

PWA executed for Century Business Park grading

$1,185,000.00Town of Mount AiryPANK LAND LLCMay 4, 2026

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Description

The Town of Mount Airy plans to enter into a Public Works Agreement with Pank Land, LLC for grading and stormwater improvements at Century Business Park. The agreement is backed by $1,185,000 in bonded construction work plus required security and inspection fees.

Contract Details

Contract Amount

$1,185,000.00

Vendor

PANK LAND LLC

Agency

Town of Mount Airy, MD

Contract Type

FACILITIES

Document Date

May 4, 2026

Contract Term

Initial security period three (3) years from agreement date, with construction to start within one year and additional security if not completed within 2.5 years

Renewal Info

Letter of credit or equivalent security must be irrevocable for an initial 3-year period; if all aspects of the development are not completed to the Town’s satisfaction within 2.5 years, new security satisfactory to the Town is required. Agreement may be terminated if construction does not start within one year or is not diligently pursued.

Issuing Agency