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Judy stated that the Board will submit tie Lawrence 1�7'nch list to <br /> Charlie Rowley and he will make an inspection. <br /> Pat stated that everything which was said tonight was said on play <br /> 16th. There are other things under discussion, not just the road <br /> issue , especially the sewage treatment plant.. A major concern is <br /> that neither the Town nor the buyers are going to get stuck <br /> building the sewage treatment plant. The banding was part of the <br /> special permit. The whole project was predicated on sewage <br /> treatment . It is inappropriate for the Bank' s wholly o=Tned <br /> subsidiary to be holding their awn security. It should be in the <br /> hands, of a third party and he would like to - see that addressed. <br /> The $70 , 000 road improvements are minor compared to that (sewage <br /> treatment plant) . <br /> Judy stated that the lots which are released were temporarily <br /> released. <br /> The security should be for what was approved by this Board (does <br /> not matter what State is saying) and should be from a third party. <br /> Judy stated that the Board instructed Mr. Dunning at the last <br /> meeting and will instruct them again tonight that if they don' t <br /> feel they have to put up the security with a third party, then <br /> submit legal arguments to the Board which can be submi-ted to To in <br /> Counsel . <br /> The Board will give the list of road work to Charlie for inspection <br /> and they can come back in two weeks . <br /> Judv explained that Wayne Garrett could not be present but cal-1ed <br /> about his concern that there is a Town by law stating there will be <br /> no permits if taxes are not paid. <br /> Mr. welch stated that the issue is 1989 taxes , they have paid 19-0 <br /> taxes . They are meeting with Board of Assessors to resolve issue: . <br /> Pat asked Mr . Welch, in 25 words or less , whe.re the development i s <br /> heading? <br /> Mr . Welch responded that there is still a lot of work to be dons: <br /> before they can represent to a buyer what they are getting. Ir.hay <br /> are talking with several buyers . <br /> Mr. Baker asked if the letter was available to property owners and <br /> if he could have a copy? <br /> Judy stated that everything is public information, they will get <br /> him a copy. <br /> Mr . Kirrane suggested Town counsel read "the Agreement" carefu1-2.y, <br /> there are certain things which were required to be done by the ''own <br /> which wk re not done . <br /> Mr. Welch stated that the Bank ' s position is that unt ii f i�r yh,�2r <br /> permits are requested there is no need for the se=.gag-, area <br /> plant, and when further permits are regu s ted t � �T Frill g��. a <br /> Letter of credit to the Board. <br /> 4 <br />