Extension and Reduction of Collins Walk LOC Approved
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Description
The Planning Commission authorized a one-year extension and reduction of the Collins Walk subdivision infrastructure letter of credit involving Diamond Shores, LLC, cutting the guarantee from $462,799.06 to $239,456.25 through April 9, 2027. This financial instrument secures completion of required infrastructure improvements.
Contract Details
Contract Amount
Reduction of $462,799.06 to $239,456.25
Vendor
DIAMOND SHORES LLC
Agency
City of Conway, SC
Contract Type
FINANCIAL_SERVICES
Document Date
April 2, 2026
Contract Term
Extension of letter of credit to April 9, 2027
Renewal Date
2027-04-09
Renewal Info
Infrastructure letter of credit for Collins Walk Phase 1 renewed for an additional year to April 9, 2027 with a reduced principal amount of $239,456.25.
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