West Hempfield returns long-lost funds to developer
BY DEAN LEE EVANS, Correspondent
West Hempfield Township supervisors have approved the release of nearly $56,000 in long-forgotten funds back to a developer.
The money, required as part of a letter of credit for a completed stage of the Eagles View development off Marietta Avenue near Stony Battery Road, had been sitting untouched in an escrow account for several years.
Township manager Ron Youtz said March 5 the money was recently "discovered" when officials released other funds from another phase of the development.
"Unfortunately for (the developer), this has been sitting for quite a while," Youtz said. "He lost sight that we were still holding a letter of credit. It kind of surprised him."
Letters of credit are issued on developments to guarantee that certain requirements are met, such as the installation of streets, sidewalks or stormwater-management amenities.
Youtz said streets for the phase of the development covered by the forgotten funds were dedicated to the township in 2005.
Zoning officer Jodi Grove told the board that under the recommendation of the township engineer, the township should retain $4,200 of the $60,000 guarantee for some minor sidewalk work that requires completion.