My name is Nicholas Vaskov and I too work for the City of North Las Vegas, Nevada - as Assistant City Attorney. I have been practicing law approximately 7 years, the last 4 and half of those with the City of North Las Vegas. I am in charge of the Development Services division of our office; my practice includes zoning, land use, development and administrative law. Our office is full of relatively young attorneys and my hope is that this listserv will become a resource and sounding board of newer government attorneys. Here is a recent development issue we have encountered: With the economy and development climate being what it is, we are seeing more and more entitled developments scuttled and transferred to holding companies with no intention of building in the near future. In many cases, the City is holding bonds or cash securing the construction of partially or un-constructed off-site improvements. The developers don't want to continue paying the bond premiums (or want the cash back) and are requesting that the bonds/cash be released. We are contemplating a policy of releasing the bonds/cash in exchange for a covenant from the developer not to construct the entitled improvement. The covenant would be released only once the developer is ready to again construct and upon the submission of a new bond/cash. This policy would serve the developers goal of saving the cash/bond premiums and the City's goal of ensuring that the public infrastructure improvements required to serve the development are completed contemporaneously with the completion of the development. It also ensures that the City is not left maintaining infrastructure that serves no current public need. Is anyone else encountering this problem - have such a policy or used a covenant is such a fashion? Any other thoughts or ideas? Nicholas G. Vaskov Assistant City Attorney City of North Las Vegas DO NOT read, copy or disseminate this communication unless you are the intended addressee. This e-mail communication contains confidential and/or privileged information intended only for the addressee. If you have received this communication in error, please call us (collect) immediately at (702) 633-1050 and ask to speak to the sender of the communication. Also please e-mail the sender and notify the sender immediately that you have received the communication in error. Thank you.