The Town of Danvers Planning Board voted Feb. 25 to release the full performance guarantee securing construction at the Chatham Estates definitive subdivision, formerly 69 North Street.

The board’s certificate of completion states the subdivision work shown on the plan titled Chatham Estates, Danvers, Mass., dated May 25, 2021, revised through Feb. 7, 2022, has been “fully and satisfactorily completed” and that the planning board releases its interest in the $591,975.24 held under a tripartite agreement. The action cites Massachusetts General Laws Chapter 41, Section 81U as the authority for release of performance security.

John Colantoni, identified at the meeting as a partner with Chatham Estates LLC, told the board the developer had the engineering division’s blessing and that the project team was “ready.” Town staff confirmed an engineering memorandum from Stephen King dated Feb. 21, 2025, and review by Henry Clark supported the release.

Chair Louis George opened the floor to board members and to the public; no members of the public spoke about the item. After a motion and second, board members voted in favor. The board directed staff to prepare the certificate of completion and release documents for the developer to record and to provide to the bank or other holders as needed.

Why it matters: Releasing the performance guarantee transfers responsibility for future maintenance and shows the town’s engineering staff has accepted the constructed municipal services and ways.

The board’s vote was recorded as unanimous; the certificate notes the plan is recorded at the Southern Essex District Registry of Deeds, Book 40,829, Page 358.