Franklin, Tennessee Development News

West Haven Development Granted Bond Modification

The commission discussed and approved a modification of standard performance bonds for the West Haven development, allowing for the use of surety bonds instead of irrevocable standby letters of credit. This change applies specifically to this vested property operating under a previous ordinance and does not set a precedent for future projects in the city. The applicant, Southern Land Company, presented the request, highlighting their history of managing outstanding bonds effectively, with current outstanding bonds for the city totaling only $21,000. Staff confirmed no concerns with the request, noting that a zoning ordinance change last year already permits surety bonds for new projects under that ordinance.