Elizabeth trustees approve six-month Main Street Station extension
The project owner would have until July 27, 2027, to provide a guarantee for public improvements. Permits and construction remain barred until the town approves it.
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Elizabeth trustees voted unanimously Oct. 27 to approve an amendment that would give Main Street Station Elizabeth LLC until July 27, 2027, instead of Jan. 27, to provide a guarantee for public improvements, the meeting recording shows. The resolution authorizes the mayor to sign the amendment after the owner signs it. The town cannot issue a building permit or allow construction until it receives and approves the guarantee.
The guarantee must be an irrevocable letter of credit for 110% of estimated public-improvement costs. The site-plan approval will become void if the guarantee is not provided by the new deadline. The amendment and the owner’s Sept. 22 request in the town’s meeting packet set out those terms and say the owner was marketing the property to a developer who would take over the agreement and provide the guarantee.