An escrow account is now in place for the infrastructure improvements at Castaway Pointe.
$377,300 in escrow replaces the irrevocable letter of credit as the city works with the developers in completing the installation of water and sewer lines, natural gas, electricity, storm sewers and a street at the Castaway Pointe "Estates" and "Villas."
The developers are still responsible for the work. The escrow account means "that funds are assured and infrastructure will be completed," says City Administrator Erv Portis.
The Cassgram reports that the subdivision agreements specified one year deadlines for completion of the work. One of those original deadlines was in April and the other was this month.
Portis says it was the bank’s recommendation that an escrow account replace the letter of credit, although it does require more work now on the city’s part.
Some of the water and sewer line work has been completed and Portis says funds have been authorized for release so Black Hills Energy can commence with natural gas service installation.
--- The former River City Star riverboat is now permanently moored in the Castaway Pointe Marina. Jeff "Nacho" Haight of Double Down Bar & Grill says he is working with the Castaway Pointe developers to lease the boat and open a dining and entertainment complex there he’s calling "Flatheads"—named after the catfish found in the Missouri River.
Haight foresees Flatheads to be open Fridays, Saturdays and Sundays from April through September and be available for special events during the week. He’s hoping for a mid-to-late July opening this year.
City Zoning and Building Inspector Kevin Larson says the city really has no zoning jurisdiction over the boat because it sits on water, but any parking lots or signs would fall under land zoning regulations and he’s awaiting plans from the developer.
Haight has applied for a liquor license through the state. The public hearing for the liquor license will go before the county board of commissioners since the establishment is outside the city limits.