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HomeMy WebLinkAboutR92-174 Cordillera Subdivision Phase I of Filing 6 Second Partial Release of Collateral t. • 1 Commissioner L v'�' / 6 -L' moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 92- ,7 SECOND PARTIAL RELEASE of COLLATERAL "Phase I" of Filing 6 - CORDILLERA SUBDIVISION WHEREAS, pursuant to C.R.S. 30 -28 -137, the Board of County Commissioners of the County of Eagle, State of Colorado ( "Board ") intends to enter into a Subdivision Improvements Agreement dated November 2, 1992 ( "Agreement ") with Stag Gulch Partners, a Colorado General Partnership ( "Subdivider "), as a condition of final plat approval for Filing 6, Cordillera Subdivision; and WHEREAS, the Agreement requires that the Subdivider provide collateral to guarantee the faithful completion of public improvements described in Exhibit "A ", Pages 1 through 4; Exhibit "A -1 "; Exhibit "B "; Exhibit "C ", Pages 1 through 3; and Exhibit "D" of the Agreement; and WHEREAS, Paragraphs 2.1.1 through 2.1.3 of the Agreement provide an "Alternative Collateralization Method" whereby Sub- divider may deposit with the County the sum of $797,425.88, prior to the commencement of construction of "Phase I" of Filing 6, as more particularly set forth in the Agreement; and WHEREAS, Subdivider represented, and the County Engineering Department corroborated Subdivider's representations, that the collateral required for "Phase I" should be adjusted to $462,689.92; and by its Resolution No. 92 -151, the Board accepted a cash deposit in said amount; and WHEREAS, at Subdivider's request, by its Resolution No. 92- /73 of this date, the Board accepted a letter of credit in the amount of $200,000.00, and directed the Treasurer to pay over to the Subdivider the like sum of $200,000.00; and WHEREAS, Subdivider has further represented that additional work totaling the value of $163,454.64 has been completed for "Phase I" of Filing 6 (as described in Exhibit "A" attached hereto), and requests a second partial release of collateral in that amount, all as provided by the Agreement. • • WHEREFORE, Based upon the oral and written recommendations of the County staff, THE BOARD FINDS that a second partial release of collateral in the amount of $163,454.64 is appropriate for "Phase I" of Filing 6, which would result in the following balance: Letter of Credit No. S8698259 BHF -Bank $200,000.00 Cash deposit 99,235.28 TOTAL COLLATERAL REMAINING $299,235.28 THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the collateral for "Phase I" of Filing 6, Cordillera Subdivision, be further reduced by $163,454.64. THAT, the Eagle County Treasurer be and is hereby requested and directed to pay over to Subdivider the sum of $163,454.64, in addition to the sum authorized by Resolution No. 92 - /'73 THAT, the partial release of collateral granted hereby shall not in any way abrogate the rights of the Board in enforcing the Subdivider's performance of its outstanding obligations under the Agreement. MOVED, READ AND ADOPTED by the Board of Count Commissioners of the County of Eagle, State of Colorado, this day of •�1`�?`x'�r. , 1992. O COUNTY OF EAGLE, STATE OF 4 kt COLON =041, By and Through Its AT •.. BO". OF COUNTY COMMISSIONERS o : .6 ..f , llc� ,/ B Y . a.-P.-�l Q� / Clerk to the Board o Richard L.(G1st fson,i hairman County Commissioners ` r � George4A. Gates, Commissioner Donald H. Welch, Commissioner -2- • • Commissioner a seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Richard L. Gustafson Commissioner George A. Gates iri ..�- Commissioner Donald H. Welch 4 �fL This Resolution passed by (��`jJ,`� s vote of the Board of County Commissioners of the County of Eagle, State of Colorado. Filing 6 #87 -84 -3- "'J.( -it 4G ILL 1:13 P, 02 • . MOUNT DESCRIPTION OUANTITT UNITS UNIT COST TOTAL COST RELEASE RE THIS REMAINING REMAINING ROAD CONSTRUCTION H061L12ATIOM CLEAR AND GRUB 1.00 L.S. 5,000.00 5,000.00 2,500.00 10.20 ACRES 2,500.00 COMPLETE TOPSOIL REMOVAL 1 .000.00 10,200.00 10,200.00 COMPLETE 10210.00 YARDS 1.50 15,315.00 15,315.00 COMPLETE UWCLASS. EXC. 53050.00 YARDS FINE G S. EG 3.25 172,412.50 137,930.00 34,482.50 COMPLETE 29064.00 SO.YDS, 0.35 10,172.40 ROCK EXC. 8000.00 YARDS 7,379.40 2,793,00 R BASE COURSE 4.06 32,640.00 16,320.00 16,320.00 COMPLETE 7063.00 TONS 8.50 60,035.50 TESTIWG 1.00 L.S. x,035.50 COMPLETE S 51GNS 10,000.00 10,000.00 4,000.00 6,000.00 COMPLETE 7 .00 EACH 150.00 1,050.00 CUR& AND GUTTER 1,050.00 PLACE TOPSOIL L.F. 12.75 0.00 10210.00 YARDS 2.50 25,525.00 10,210.00 4 GRADE TOPSOIL 18498.00 SQ,YDS. .084.00 11,231.00 GRASS 0.40 7,399,20 18498.00 so.YOS, 0.21 3,884.58 7 , 3 •28 GUARD RAIL 7250,00 L.F. 3,884.58 GUARD RAIL ANCHORS 15.00 18,750,00 18,750.00 COMPLETE 6.00 EACH 600.00 3,600.00 SLOPE PROTECTION 1333.00 SO,YDS, 3.600.00 COMPLETE O. 1,133.05 1,133.05 COMPLETE TOTAL ROAD CONSTRUCTION 377,117.23 196,475.00 154,284.45 26,357,76 DRAINAGE GROUTED RIP RAP 3300.00 SQ.FT CMP PIPE 360 2.00 6,600.00 6,600.00 85.00 L.F. 60.00 3,400.00 CORRIGATED PLASTIC 3,400.00 COMPLETE PIPE 18" 218.00 L.F. PIPE 24 13,55 2,953.90 1,395.65 47.00 L.F. 19.25 904,75 1.508.25 904.75 CMP ENO SECTION 18" 6.00 EACH 28" 140.00 840.00 280.00 2.00 EACH 185.00 370.00 560.00 36 " 2.00 EACH 370.00 J,K PIPE 2.00 720.00 720.00 COMPLETE CORRIGATED PLASTIC 18" 60.00 L.P. 13.55 813,00 CATTLE UNDERPASS 90.00 L.F. 813.00 CMP END SECTIONS 240.00 21,600.00 21,600.00 COMPLETE 18" 2.00 EACH RIP RAP 140.00 280.00 10.00 C.Y. 35.00 350.00 280.00 350.00 TOTAL DRAINAGE 38,831.65 23,275,65 4,120.00 11,436.00 WATER & SEWER 8" SEWER LINE 5338.00 L.F, SEWER MANHOLE 47 , 27.00 144,126,00 72,724.50 350.00 Y.F. 200.00 70,000.00 22,060.00 77,901.50 SEWER SERVICE 18.00 EACH 18,000.00 1 8,000.00 x.0.00 8" WATERLINE 1,000.00 1890.00 L.P. 32,00 60,480.00 6" WATERLINE 1490.00 L.F. 60,480.00 28.00 4 1,720.00 41,720.00 8" CATE VALVE 4.00 EACH 6" GATE VALVE 600.00 2,400,00 3.00 EACH 500.00 1,500.00 2,400.00 1,500.00 E Y H E A Page 1 of 2 ti u> ,.:14 P 03 • PREVZCUS THIS AMOUNT DESCRIPTION QUANTITY UNITS UNIT COST TOTAL COST RELEASE RELEASE REMAINING TOTAL WATER & SEWER 338,226.00 96,784.50 243,441.50 OVERHEAD ELECTRIC LINE 18,000.00 18,000.00 TOTAL ENGINEERING SURVEYING, TESTING 25,251.00 20,200.81 5,050.19 COMPLETE TOTAL PUBLIC IMPROVEMENTS PKASE I 797,425.88 TOTAL FOR THIS RELEASE 334,735.96 163,454.64 299,235.28 TOTAL COST OF IMPROVEMENTS COMPLETE: 334,735.96 498,190.60 TOTAL AMOUNT To BE COLLATERALIZED: 462,689.92 299,235.28 E X HE T A Page 2 of 2