CONSTRUCTIONAPPROVED

Town of Mount Airy Town Council Meeting Agenda April 6 2026

Mount Airy, Tabassem Realty sign Southside Plaza PWA

$246,136.95 (plus 10% performance security = $24,613.70; total security $270,750.65) and a $31,985.00 contribution to offsite improvements; $1,351.25 Water Expansion Fund payment; $19,690.96 inspection feeTown of Mount AiryTABASSEM REALTY LLCApril 6, 2026

Trusted by teams at

Description

The Town of Mount Airy entered into a Public Works Agreement with Tabassem Realty, LLC for the Southside Plaza project, requiring the developer to construct and bond approximately $246,000 in public infrastructure plus a $31,985 contribution to a nearby roundabout. The agreement governs construction of water, sewer, storm drainage, roads, sidewalks, and related improvements, with performance security, inspection fees, and completion timelines specified.

Contract Details

Contract Amount

Vendor

TABASSEM REALTY LLC

Agency

Town of Mount Airy, MD

Contract Type

CONSTRUCTION

Document Date

April 6, 2026

Contract Term

Initial letter of credit term three (3) years from date of agreement; construction commencement required within one year; various performance and completion timing conditions

Renewal Info

Agreement requires a new letter of credit or security if all aspects of development are not completed within 2.5 years of execution; construction must start within one year or the Town may terminate and invoke default remedies. No automatic renewal; extensions would require new security acceptable to the Town.