The Wisconsin Builders Association is suing the village of Sussex, alleging that the village is violating state law by retaining security payments for longer than it is legally allowed.
The Wisconsin Builders Association also argues in its suit, filed in Waukesha County Circuit Court on Feb. 5, that the village should accept a performance bond rather than insisting on cash or letters of credit before getting plat approval. A performance bond is a guarantee that contractors will complete the work.
The association is representing Hidden Hills Development LLC, which wanted to subdivide a tract in 2017. Hidden Hills provided a letter of credit as security, and substantially completed public improvements in November 2017, the lawsuit said. In March 2020 more than two years after the improvements were completed Hidden Hills sought to have its letter of credit released.