OTHERPENDING

Town of Portsmouth Planning Board Meeting Agenda May 14 2026

Planning Board weighs bond release for Ferreira Avenue

$425,000 subdivision bond; one-year maintenance bond equal to 5% ($42,500.00) of the surety bondTown of PortsmouthMCCORRIE LANE LLCMay 14, 2026

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Description

The Portsmouth Planning Board is scheduled to consider an advisory opinion to the Town Council on accepting Ferreira Avenue as a public road and releasing McCorrie Lane LLC’s $425,000 subdivision bond. The release would be conditioned on recording as-built plans and posting a one-year maintenance bond equal to 5% of the surety amount ($42,500).

Contract Details

Contract Amount

$425,000 subdivision bond; one-year maintenance bond equal to 5% ($42,500.00) of the surety bond

Vendor

MCCORRIE LANE LLC

Agency

Town of Portsmouth, RI

Contract Type

OTHER

Document Date

May 14, 2026

Contract Term

One-year maintenance bond following acceptance of road construction

Renewal Info

Request proposes releasing the existing subdivision performance bond and replacing it with a one-year maintenance bond equal to 5% of the surety bond after road acceptance and recording of as-built plans.