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HomeMy WebLinkAboutR94-049 fifth partial release Summit Vista Phase IICommission moved adoption owi Resolution: of the foll BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 94- FIFTH PARTIAL RELEASE OF COLLATERAL SUMMIT VISTA, PHASE II SUBDIVISION WHEREAS, on or about August 22, 1984, pursuant to C.R.S. 30- 28 -137, the Board of County Commissioners of the County of Eagle, State of Colorado ( "Board "), entered into a Subdivision Improvements Agreement ( "Agreement ") with Meldor Partnership ( "Subdivider "); and WHEREAS, in order to guarantee the faithful completion of certain public improvements required under the Agreement, the Board took as collateral a Letter of Credit in the amount of $104,089.00, issued by the Alpine Bank of Basalt, Colorado, for the benefit of Eagle County; and WHEREAS, Irrevocable Letter of Credit No. 65 was amended by Resolution 91 -101 dated December 10, 1991 to the amount of $62,700. through a partial release of collateral; and WHEREAS, Irrevocable Letter of Credit No. 65 was amended by Resolution 92 -61 dated June 1, 1992 to the amount of $30,800.00; and WHEREAS, Irrevocable Letter of Credit No. 65 was amended by Resolution 92 -190 dated December 7, 1992 to the amount of $16,500 being held to ensure the completion of work. WHEREAS, Irrevocable Letter of Credit No. 54 was increased by Resolution No. 93 -148 to the amount of $16,700 for the warranty period for improvements. WHEREAS, the Subdivider has suggested to the Board, and members of the County staff have agreed with the Subdivider's suggestions, the Board receive the Letters of Acceptance from respective utility companies in lieu of 10% of the original collateral amount during the warranty period. (Exhibit A attached hereto.) WHEREAS, The Board does agree to accept the Letters of Acceptance from SGM Engineers /Surveyors confirming that the water and wastewater utilities were completed in accordance with the Rules and Regulations of Mid Valley Metropolitan District in the fall of 1989 for a total reduction of $3,500; from Holy Cross Electric Association confirming that the electric utilities were completed in the fall of 1989 for a reduction of $3,800; from Rocky Mountain Natural Gas confirming that the gas mains and services have been installed for a reduction of $500; and from USWest confirming that the telephone utilities were completed in December of 1989 for a reduction of $500. (Exhibit B attached hereto.) WHEREAS, the Subdivider is requesting the amount of the collateral as evidenced by Letter of Credit No. 65 be reduced to $8,400.00. BASED upon the written recommendations of the Department of Engineering, the Board finds that the collateral be reduced by the amount of $8,300 to $8,400.00. (Exhibit C attached hereto.) The Board also finds that the Letters of Acceptance will be used in lieu of 10% of the original collateral amount. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, based upon the written recommendations of the Department of Engineering, the Board finds that the Letter of Acceptance will be maintained by the County in lieu of 10% of collateral for the warranty period. THAT, the collateral be reduced by the amount of $8,300 to $8,400. MOVED, READ AND ADOPTED by the Board of County Commissioners of "e County of Eagle, State of Colorado, this �( day of 1994. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: �� BOARD OF COUNTY COMMISSIONERS s By: J Clerk to th Board of Johnnette Phillips, Chairman County Commissioners 2 G' edrge . Ga s, Commissioner Commissione 10, f- �_ J ��_ seconded adoption of the foregoing reso ut The ill having been called, the vote was as follows: Commissioner Johnnette Phillips o Commissioner James E. Johnson, Jr. � Q �O Commissioner George A. Gates,p This Resolution passed by p, — vote of the Board of County Commissioners of the County of Eagle, State of Colorado. r \summit6.re1 84 -152 -3- January 29, 1994 MELDOR CONSTRUCTION INC. 11 Riversedge Ct. Basalt, Colorado 81621 303/927 -8028 Mr Phil Scott Department of Engineering Eagle County P.O. Box 850 Eagle, CO 81631 Dear Phil: Enclosed please find waivers from all of the utility companies associated with Summit Vista. Per the County Commisssioners' mandate, this should reduce the letter of credit by the amount corresponding to these utilities: waterline reduced by $1,000., sewer reduced by $2,500., electric reduced by $3,800., natural gas reduced by $500., and telephone reduced by $500., for a total reduction of $8,300. Please send me a notification of reduction of the letter of credit. I will then provide a new letter of credit to Eagle County. If this can be done fairly quickly, it will reduce the fees paid by Meldor Construction for the letter of credit. Outside the County Commissioners' meeting, you mentioned that Eagle County could provide verification of road work inspections. Will you please forward the last few final inspections of the road to me. S� yo urs, o- l acheldor ENGINEERS ^'. SURVEYORS • � GM (303) 945 -1004 SCNMUESER FAX (303) 945 -5948 GOROONMEYER 1001 Grand Avenue, Suite 2E Glenwood Springs, CO 81601 January 13, 1994 Mr. Norman Bacheldor Meldor Partnership 11 Riversedge Court Basalt, Co. 81621 RE: Summit Vista Subdivision Phase II Dear Mr. Bacheldor: This is to confirm that the water and wastewater utilities for Summit Vista Subdivision Phase 11 were completed in accordance with the Rules and Regulations of the Mid Valley Metropolitan District in the fall of 1989. The Mid Valley Metropolitan District has assumed operation and maintenance of those utilities that were dedicated to the District. If we can provide any additional information, please contact me. Sincerely, SCNMUESER GORDON MEYER, INC. � r ..r Loui' s Meyer, P.E. CC: Kelly Johnson LOM /ja1501.1 HOLY CROSS ELECTRIC ASSC�IATION, INC. 3799 HIGHWAY 82 P.O. DRAWER 2150 GLENWOOD SPRINGS, COLORADO 81602 December 16, 1993 Mr. Norman Bacheldor Meldor Partnership 11 Riversedge Ct. Basalt,.Colorado 81621' RE: Summit Vista Subdivision, Phase II Dear Mr. Bacheldor: This is to confirm that the electric utilities for Summit Vista Subdivision, Phase II, were satisfactorily completed in the fall of 1989 and our period for Meldor's warrantee, if any,' expired.. We acknowledge ownership of these utilities and any maintenance or repair of these utilities is our responsibility. Since -elvl. ASSOCIATION, INC. Waltef D. Dorman, Construction Engineering Supervisor WDD: rjm dolman \bacheldo EXHIBIT (303) 945 -5491 (FAX) 945 -4081 ROCKY �� �� Rocky Mountain Natural Gas MOUNTAIN ADivision of K N Energy, Inc. 01iATURALGiAS P.O. Grand Avenue ®Y aA P.O. Box 340 Glenwood Springs, CO 81602 -0340 (303) 928 -0400 12 -13 -93 Meldor Partnership -- 11 Rivers Edge Ct. Basalt, Co. 81621 Dear Sir: I would like to confirm that gas mains and services have been installed in the Summit Vista subdivision phases I, II, and III. The mains were installed in easements provided by the developer, and in accordance with the rules and regulations of Rocky Mountain Natural Gas.. Installation and backfill have been completed in an acceptable manor. I would also like to thank you at this time for always being so pleasant and professional to work with. Summit Vista has turned out to be a beautiful and well designed project, a compliment to the area. Sincerely; Darrell Ha_tigan District Manager U S WEST Communications, Inc. _. 1005 17th Street Room 540 x 'a Denver. Colorado 80202 303 896 -9597 Thomas A. Scroghem Manager Network and Technology Services Denver., Coton.ado JanuaAy 14th, 1994 Mn. Non.man Bachetdon. Metdon. Pautne Ah.ip 11 Rive" ide Ct. Baaatt, Cotonado 81621 3 W ESr COMMUNICATIONS RE: Land Deve.topment Agn.eement ( LDA) Contn.o.t 0 1251200386 Dean. Nonman: Th.iz .ia to con6.iicm that U S Weat Commun.icat-ionb, Inc., telephone utititiea bon. Summit V.i_6ta Subdivision, Phaze II, wen.e aati.66aeton..ity eompteted in Deeemeben oA 1989. In addition, we acknowledge owne"h.ip and that any maintenance o6 th.i_e 6ae.itity ptaeed undex the a6on.ement.ion LDA, .ie owL n.ea p o na.ib.it ity . S.ineeAe -ty, Thomab A. ScAoghem Manag en- Y l MEMORANDUM EAGLE COUNTY ENGINEERING TO: Nancy Lewis, Attorney's Office FROM: Phill Scott, Engineering DATE: March 1, 1994 RE: Summit Vista, Phase II Subdivision Improvements Agreement Fifth Partial Release of Collateral At the time of the fourth partial release of collateral the developer, Norm Bacheldor, proposed to the Board that, due to certain utilities having been installed and accepted by the various utility companies, the County not hold 10% of the original collateral amount during the two year warranty period. Jim Fritze suggested that the Board could react favorably to Mr. Bacheldor's request if we had letters of acceptance from the respective utility companies. The Board indicated to Mr. Bacheldor that with such letters they could accept his proposal. On February 1, 1994 our office received a package of letters from the utility companies and a cover letter from Mr. Bacheldor. I have attached these letters. We would recommend that the Board accept these letters and Mr. Bacheldor's proposal to reduce the collateral as outlined in the letter by Meldor Construction, Inc. to me dated January 29, 1994. I believe that at the Fourth Partial Release of Collateral the amount was amended to $16,700. This proposal would reduce the collateral being held by the county by $8,300 to $8,400. If your office agrees with the proposed terms, please schedule this matter for the next available BOCC meeting. Thank you. CC: Larry Metternick File 4 �. vu �i VU