No preview available
HomeMy WebLinkAboutR97-013 third partial release for Eby Creek Mesa Phase III"S Commissioner moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 97 - 1,3 L— AUTHORIZING A THIRD PARTIAL RELEASE OF COLLATERAL AND COMMENCEMENT OF THE WARRANTY PERIOD FOR EBY CREEK MESA SUBDIVISION PHASE III WHEREAS, pursuant to C.R.S. 30- 28 -37, the Board of County Commissioners of the County of Eagle, State of Colorado ( "County ") entered into a Subdivision Improvements Agreement dated May 16, 1995, ( "Agreement ") with Eby Creek Mesa Limited Partnership, a Colorado Limited Partnership, whose general partner is Eagle River Land Company, Inc., a Colorado corporation ( "Subdivider "), as a condition of final plat approval for Eby Creek Mesa Subdivision Phase III; and WHEREAS, pursuant to the Agreement the Subdivider provided the County with collateral for those public improvements required under the Agreement in the form of two letters of credit, the first, Letter of Credit Number 47, issued by Alpine Bank, Eagle, in the amount of $56,000.00 and second, Letter of Credit Number 50, issued by Alpine Bank, Eagle, in the amount of $552,239.50. WHEREAS, pursuant to the Agreement, the Subdivider may apply to the County for a partial release of collateral based on its progress in constructing the public improvements required by the Agreement; and WHEREAS, by Eagle County Consent Number 95 -10 the Subdivider was granted a first partial release of collateral in the amount of $352,108.80 reducing the collateral to $256,130.70 and provided the County with Irrevocable Letter of Credit No. 50, issued by Alpine Bank; and t WHEREAS, by Eagle County Consent Number 95 -33 the Subdivider was granted a second partial release of collateral in the amount of $57,703.50 reducing the collateral amount to $198,427.20 and provided the County with Irrevocable Letter of Credit No. 50, issued by Alpine Bank; and WHEREAS, Subdivider has represented to the County, that further certain public improvements required under the Agreement have been completed and has also requested that the warranty period be commenced; and WHEREAS, the Subdivider requests a partial release of its collateral reducing the amount currently held by the County from $198,427.20 to $60,823.95 which amount represents ten percent of the original cost estimate, which amount is to be held for the duration of the two year warranty period; and WHEREAS, based upon the oral and written recommendations of the County Engineer, see Exhibit "A ", attached hereto and incorporated herein by this reference, THE COUNTY FINDS that the public improvements associated with Eby Creek Mesa, Phase III appear to have been completed and a reduction in the collateral held by the County is warranted and that the commencement of the warranty period would be appropriate; and WHEREAS, by Eagle County Resolution No. 94 -211 the Board accepted the roads within Eby Creek Mesa, Phase I for winter maintenance only in order to protect the safety of the residents of Eby Creek; and WHEREAS, the County Engineer also recommends maintenance of Castle Peak Road and Deer Trail Court as set forth in Exhibit "A ", as approved by the Eagle County Department of Road and Bridge; and WHEREAS, this release of collateral is contingent upon the Subdivider providing a new or amended Letter of Credit to the County in a form acceptable to the County Attorney. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: i THAT, based upon the recommendations of the County Engineer the County hereby authorizes the release of collateral in the amount of $137,603.25, thereby reducing the collateral to $60,823.95 which amount represents ten percent (100) of the original cost estimate, which amount is to be held for the duration of the two year warranty period. THAT, based upon the recommendations of the County Engineer, the commencement of the warranty period would be appropriate, the two year warranty period shall expire on January 23, 1999. THAT, the County will provide maintenance for those portions of Castle Peak Road and Trail Court as set forth in Exhibit "A ", however, Subdivider is responsible for the condition of the Subdivision Improvement and for any failures or defects in workmanship or materials used in the construction of the roads for the duration of the warranty period, as set forth in the Agreement. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the day of 1997. m COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: BOARD OF COUNTY COMMISSIONERS " By. Clerk to the card of Johnnette Phillips, Chairman County Commissioners Georgd'A. Gates, Commissioner Commissioner seconded adoption of the foregoing resoluti n. The roll having been called, the vote was as follows: Commissioner Phillips Commissioner Johnson Commissioner Gates This Resolution passed by Q2 -0 vote of the Board of County Commissioners of the County of Eagle, State of Colorado. mta \ref \ebyiii.war 82 -248 t MEMORANDUM EAGLE COUNTY ENGINEERING TO: Maureen Amundson, Attorney's Office FROM: Mike Gruber, Engineering Alk DATE: 1/23/97 RE: Eby Creek Mesa, Phase III, Collateral Reduction, Start Warranty Period, Snow Plowing A request has been submitted by High Country Engineering, Inc. on behalf of Eagle River Land Company, Inc. for collateral release for Eby Creek Mesa Subdivision, Phase III to the 10% retainment, the start of the 2 year warranty period and snow removal maintenance. Engineering performed inspections throughout the months of October and November of items toward completion and recommends reduction of collateral to 10% as the summary provided indicates and the start of the warranty period. Snow plowing is recommended for a typical 30 foot width and a length of 2000 feet for Castle Peak Road and 1040 feet for Deer Trail Court. Cc: George Roussos, County Engineer Chrono /File COLLATERAL RELEASE SUMMARY SIA: Eby Creek Mesa, Phase III 'Third Partial Release DATE: January, 1997 ORIGINAL AMOUNT OF AMOUNT IMPROVEMENTS Mobilization COLLATERALIZED $ 20,000.00 $ COMPLETED 20,000.00 Grading & Earthwork $ 60,000.00 $ 60,000.00 Class 6 ABC $ 60,000.00 $ 60,000.00 3" Asphalt Pavement $ 78,292.50 $ 78,292.50 18" ADS Culvert $ 10,425.00 $ 10,425.00 24" ADS Culvert $ 1,960.00 $ 1,960.00 18" CMP Culvert /Flared Ends $ 780.00 $ 780.00 24" CMP Culvert /Flared Ends $ 500.00 $ 500.00 18" Diameter Riprap $ 320.00 $ 320.00 Class I Ground Sign $ 1,600.00 $ 1,600.00 Delineator Post $ 180.00 $ 180.00 Valve Box Adjustment $ 500.00 $ 500.00 Manhole Adjustment $ 500.00 $ 500.00 Connect New Water Main $ 2,000.00 $ 2,000.00 8" D.I.P. $105,462.00 $105,462.00 8" Gate Valve $ 3,600.00 $ 3,600.00 Fire Hydrant Assembly $ 15,400.00 $ 15,400.00 3/4" Copper Water Service $ 14,000.00 $ 14,000.00 1" Copper Water Service $ 12,000.00 $ 12,000.00 Air /Vacuum Release Valve $ 4,400.00 $ 4,400.00 Adjust Exist. 24" Pipe at Mesa Rd $ 3,000.00 $ 3,000.00 8" SDR35 San. Sewer $ 97,860.00 $ 97,860.00 8" Certa -Lok Yellowmine San. Sewer $ 3,710.00 $ 3,710.00 4' Diameter Manhole $ 28,000.00 $ 28,000.00 4" Sanitary Sewer $ 28,800.00 $ 28,800.00 Connect New Sewer Line $ 1,000.00 $ 1,000.00 4' Utility Trench $ 23,000.00 $ 23,000.00 5' Utility Trench $ 22,400.00 $ 22,400.00 Conduit & Warning Tape $ 500.00 $ 500.00 Transformer Vault Excavation $ 4,550.00 $ 4,550.00 Revegetation & Erosion Control S 3.500.00 S 3,500.00 TOTAL $608,239.50 $608,239.50 ry Eby Creek Mesa, Phase III Third Partial Release January, 1997 Page 2 IMPROVEMENTS COMPLETED: $608,239.50 10a RETAINAGE $ 60 $547,415.55 FIRST RELEASE: $352,108.80 SECOND RELEASE: S 57_ 70 .50 THIS RELEASE: $137,603.25 ORIGINAL SIA: $608,239.50 FIRST RELEASE: $352,108.80 SECOND RELEASE: $ 57,703.50 THIS RELEASE: $j 7 REVISED COLLATERAL: $ 60,823.95