“In a vote so confusing that Security Properties officials had to ask what had happened, the Poulsbo City Council approved the plat for the first 10 new homes in Poulsbo Place. The approval won’t be final, however, until SPI sets aside $550,000 to guarantee construction of the Iverson Street road extension. Steve Dymoke, vice-president of SPI expects the road funding issue to be resolved this week, with certificates of occupancy to be issued shortly after that by the city. If that all happens, owners of the new homes could be moving in by Halloween. The council’s approval came following a week of solid progress by SPI on a list of 43 punch list items that had caused the council to delay approval of the plat last week. Tom Curren, SPI president, Mayor Donna Jean Bruce and City Engineer John Stephenson met during the week to resolve issues and move the project toward approval. Stephenson recommended council approval of the plat, with the recommendation that a bond or set aside amount of $550,000 was needed to assure completion of Iverson Street. Councilmember Jim Henry expressed the frustration present on both sides of the council table when he asked Stephenson Since it was your displeasure that caused this project to be delayed last time, I want you to tell me if they’re ready to go. The answer from Stephenson was an emphatic, Yes, they’re ready to go. SPI was ready, but disputed the amount of money that needed to be bonded or set aside to build Iverson. By Stephenson’s calculations, the city would spend $550,000, were they to build the extension. If SPI builds it, only $325,000 would be needed. The councilmembers and SPI engaged in a lengthy discussion about the amount of money that needed to be set aside, and when the road would be built. Tempers frayed among SPI representatives and councilmembers when a discussion about SEPA approvals bogged down in details about the status of construction drawings. At last, Councilmember Dale Rudolph moved that the council approve the plat, with a condition that $550,000 be set aside for Iverson Street construction. Councilmember Connie Lord prefaced her vote with an explanation. I think that setting aside this money protects both the applicant and the city. I feel an obligation to protect both of us and have the Iverson Street construction go forward. The vote for approval was 5-1. Councilmember Mike Regis voted no, calling the motion inappropriate. The approval for the 10-house plat is just the beginning of approvals that SPI will be seeking from the Poulsbo Council for the 164 house development. They expect to return to the council for additional approvals during October. This is 10 lots out of 164, Dymoke said Thursday. This has been a painful process for 10 lots. We feel kind of disheartened. We came in, introduced this project and the council was so gung-ho., Dymoke recalled. They loved the project, trusted Security Properties to do the right thing. Somehow, we don’t know why, we feel like we’ve lost their trust. This is unlike any plat approval process we’ve ever seen, Dymoke said. Now that we know how they play the game, we’ll do our best to continue to meet whatever it takes to get approval. Dymoke summed up the situation as Bottom line is we all want the same thing, a good, well-built, safe project. “