Lloyd Estates Subdivision financial assurance
The city called $200,000 in a developer's financial assurance after required improvements, mainly a stormwater detention basin, went unfinished. The city will use contractors and engineering support to complete safety, ADA, retention basin and homeownership-related items first. The council appropriated the funds 4-0 on April 21, 2026.
- Where it stands
- Under construction
- Type
- Subdivision
- Location
- Lloyd Estates Subdivision, Logan
- Applicant
- Subdivision developer
Every hearing and vote
April 7, 2026 · City Council
Workshop: Lloyd Estates financial assurance, Resolution 26-11
Discussed
Finance Director Richard Anderson previewed appropriating $200,000 in financial assurance funds called from the developer of the Lloyd Estates Subdivision, which did not complete required improvements, chiefly a stormwater detention basin. The bond is nearing expiration and may not cover the full cost. Staff called it the first such case in many years.
April 21, 2026 · City Council
Lloyd Estates financial assurance, Resolution 26-11 (public hearing)
Approved · 4-0
The council appropriated $200,000 in financial assurance called from the developer, to pay contractors and some engineering support given a vacant engineer position. City Engineer Darren Farar said the money will address the retention basin first and minor items like chipped concrete may not be finished if funds run short. Council Member Simmonds said homeowners should not receive less than expected, and Council Member López said delays are affecting mortgage qualification.