The subdivision plat and zoning of the Tanglewood Reserve Planned Unit Development adjacent to Pine Junction was automatically terminated on Sept. 1 per a 2012 Park County resolution.
Littleton-based Pine Ridge Residential, LLC failed to deliver a $1.136 million letter of credit to guarantee the completion of public improvements in Phase C and Phase D of the subdivision by Sept. 1, 2015.
Park County Attorney Lee Phillips announced at the Sept. 3 county commissioner meeting that the letter of credit had not been received and therefore, the 2006 subdivision approval was automatically terminated.
The letter of credit was required by the 2006 conditional approval and the subdivision improvement agreement that accompanied the conditional approval.
