/ Articles / Winchester terminates performance bond with Granite RE

Winchester terminates performance bond with Granite RE

November 22, 2019 by Kayla Houp

The Winchester Town Board approved the release of a performance bond with Granite RE, Inc. on Nov. 14, following a walkthrough of the town hall with Ray Kilty of PhaseOne Construction.

The board conducted the walkthrough to ensure all work on the town hall had been completed to the board’s satisfaction. 

“There’s now a list of minor items, and other items that will be done under warranty,” town supervisor Sulo Wainio said.

According to town clerk Joan Wainio, the board signed the surety bond with Granite RE, Inc. around the same time it had signed the contract with the contractor, Athens Lumber, LLC.

“After Athens declared bankruptcy this spring, we went forward to collect on the bond,” Joan Wainio said via phone Nov. 19. “We held the bonding company to the contract that they had to take over, that they were responsible for completing the project.”

Joan Wainio also explained the town sent the money they owed for the project to Granite RE, Inc.

Budget finalization

The Winchester Town Board finalized its 2020 budget on Nov. 14 with a total income of $1,569,038 and total expenses of $1,545,538, with a levy of $777,261.

Initially, the total income and expenses were projected at $1,569,438 and $1,545,938 respectively.

Joan Wainio noticed an error in the assessor mileage and expenses line item which resulted in the deduction of the total income and expenses by $400 each.

“What I’m anticipating here is total income of $1,569,438, with, in order to balance things out, we talked about borrowing money for both the truck and the plow truck,” Joan Wainio said. “We had approved — you’re going to go to the people requesting $250,000 for the fire truck, and I just kind of guessed it $100,000 for the plow truck.”

Joan Wainio said these figures could be changed if needed, but she had included borrowing that $350,000 in the budget.

In order to balance the budget $271,335 was transferred from the town’s reserves, Joan Wainio said.

Kayla Houp may be reached via email at [email protected]

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