ENM approves reduction in escrow

The Elko New Market City Council unanimously approved a reduction in the escrow fund for Boulder Heights, a housing subdivision, at its Thursday, Sept. 8, meeting.

City Administrator Tom Terry explained the city usually asks for an escrow to cover work on an application. Whatever is not used is returned to the developer. He said there has already been a lot of work done on Boulder Heights, a 50 acre development. He believed that to keep the escrow at its current level would be an undue burden. He asked the council to reduce the escrow to $15,000. “In this case we feel we can reduce it,” he said.