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Home My WebLink AboutConsent 2022-04 1st Partial Release of Collateral - File No. PDF-9126-2020_Filing 5 Frost Creek PUDDocuSign Envelope ID: 6D4ABF79-7476-40DB-A21B-6615EDD806E2 Eagle County, CO 202218822 Regina O'Brien 12/12/2022 Pgs: 10 09:01:48 AM REC: $0.00 DOC: $0.00 BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO CONSENT NO.2022 - 04 AUTHORIZING FIRST PARTIAL RELEASE OF COLLATERAL FOR FROST CREEK FILING NO. 5, FROST CREEK PUD FILE NO. No. PDF-9126-2020 WHEREAS, pursuant to C.R.S. § 30-28-137, the Board of County Commissioners of the County of Eagle, State of Colorado (the "County") entered into a Subdivision and Off -Site Improvement Agreement dated June 1, 2021 (the "SIA") with Hunters View JVCO Land, LLC, a Colorado limited liability company ("Subdivider") for Filing No. 5 of the Frost Creek Planned Unit Development (the "PUD"); and WHEREAS, Subdivider provided collateral in the form of an irrevocable letter of credit in the amount of $322,241.77 which represents 100°}0 of the estimated cost of the Subdivision Improvements associated with Filing No. 5 of the PUD; and WHEREAS, Subdivider has represented to the County that certain Subdivision and Off -Site Improvements required under the SIA have been completed and the Subdivider has applied for a first partial release of collateral; and WHEREAS, based upon the written recommendations of the County Engineer set forth in Exhibit A attached hereto and incorporated herein, and the recommendation of the County Attorney, THE COUNTY FINDS that certain subdivision improvements associated with Filing No. 5 of the the PUD appear to be completed as of November 30, 2022 and a partial reduction in the collateral is warranted; and WHEREAS, pursuant to Resolution 95-35, the Chair of the Board of County Commissioners, or in her absence, the Chairman Pro Tern, has the authority to approve partial releases once the release has been recommended for approval by the County Attorney; and WHEREAS, based upon the recommendation of the County Engineer attached, hereto as Exhibit A, and the recommendation of the County Attorney, THE COUNTY FINDS that a partial release is warranted. NOW, THEREFORE, BE IT AUTHORIZED BY THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, based on the recommendation of the County Engineer and the County Attorney, the Chair of the Board authorizes this first partial release of collateral in the amount of $290,217.59, thereby reducing the required collateral to $32,024.18, which represents the collateral to be held for the two-year warranty period under the SIA for Filing No. 5 of the PUD; and DocuSign Envetope ID: 6D4ABF79-74764ODB-A21B-6615EDD806E2 THAT, this partial release of collateral does not represent the County's acceptance of the work purportedly completed by the Subdivider; and THAT, this partial release of collateral DOES commence the warranty period under the SIA. The two-year warranty period will expire on November 30, 2024; and THAT, this partial release of collateral shall not in any way abrogate the rights of the County in enforcing the Subdivider's performance of its outstanding obligations under the SIA; and THAT, this partial release is contingent upon the Subdivider substituting collateral in a form acceptable to the County Attorney. APPROVED by the Chair of the Board of County Commissioners of the County of Eagle, State of Colorado, pursuant to Eagle County Resolution 95-35, this 9th day of December, 2022. COUNTY OF EAGLE, STATE OF COLORADO, by and Through Its CHAIR TO THE BOARD OF COUNTY COMMISSIONERS Docuftned by: By: GA4A6428F8AA6;A Jeanne McQueeney, Chair EAGLE COUNTY ATTORNEY Doeuftned by By: Bryan . reu, County Attorney EAGLE COUNTY ENGINEER DocuSigned by: By: lien Gerd,ea Ben Gerdes, County Engineer DocuSign Envelope ID:6NABF79-7476-40DB-A21M615EDD806E2 EXHIBIT A ENGINEERING DEPARTMENT MEMORANDUM DocuSign Envelope ID: 6D4ABF79-7476-40DB-A21B-6615EDD806E2 MEMORANDUM EAGLE COUNTY ENGINEERING TO: Tracy Stowell, Eagle County Attorney's Office FROM: Rickie Davies, Engineering Department DATE: November 30, 2022 RE: Subdivision Improvements Agreement, Frost Creek Filing 5, Eagle County File No. PDF-009126-2020 Authorization of the First Partial Collateral Release A written request for the inspection and reduction of the collateral for the construction of improvements under the Subdivision and Off -Site Improvements Agreement was received from Adam Ostmeyer with HV Builder, LLC on November 28, 20222. The Opinion of Probable Construction Costs for the Subdivision and Off -Site Improvements Agreement is: Public Improvements = $320,241.77 Financial Discrepancy — $_ 2,000.00* Total Collateral Amount = $322,241.77 Total Collateral Amount $322,241.77 10° of Collateral that must be held for 2 years 32,024.18 Total Collateral Release Amount $290,217.59 The Eagle County Engineering Department performed an inspection confirming the amount of work completed on November 30, 2022. Construction items were checked for completion as listed on the attached exhibit prepared by JVA, Incorporated. The items requested for reduction were found to be constructed and completed in a satisfactory manner. *There was a financial discrepancy in the submitted Letter of Credit of an extra $2,000 as indicated in the attached exhibit email between Dominic Mauriello, Mauriello Planning Group, LLC and Holly Strablizky, former Eagle County Assistant Attorney. The Eagle County Engineering Department recommends a reduction of the collateral in the amount of $290,217.59 from the $322,241.77. This will leave a balance of $32,024.18 collateral remaining. DocuSign Envelope ID: 6D4ABF79-7476-401313-A21B-6615EDD806E2 This reduction does start the warranty period. The 2 year warranty period will expire on November 30, 2024. cc. Ben Gerdes, County Engineer Beth Oliver, Deputy County Attorney Tracy Stowell, Executive Legal Assistant Adam Ostmeyer, HV Builder, LLC. Dominic Mauriello, Mauriello Planning Group, LLC Attachments: Engineer's Opinion of Probable Construction, Email Explaining Financial Discrepancy DocuSign Envelope ID: 6D4ABF79-7476-4ODB-A21B-6615EDD806E2 EXHIBIT B OPINION OF PROBABLE CONSTRUCTION COSTS DocuSign Envelope ID. 6D4ABF79-747640DB A21B-6615EDD806E2 JVA, Incorporated 817 Colorado Ave, Suite 301 Glenwood Springs, CO 81601 Ph: 970.404.3100 Job Name: Hunters View Lane - Phase 2 Job Number: 2476.15.2c Dale: 05121 /2021 By:RMMIJLS Opinion of Probable Construction Costs for HUNTERS VIEW LANE PHASE II - PUBLIC IMPROVEMENTS FROST CREEK, EAGLE COUNTY, CO Quantity Units Unit Cost Total General Sitework Clearing and Grubbing 0.5 AC $3,000.00 $1,500.00 Demo Existing Asphalt 7,915 SF $2.00 $15,830.00 Sawcut - Asphalt 1,550 LF $6,00 $9,300.00 Revegetation - Seeding 0.5 AC $5,000.00 $2,500.00 Traffic Control 1 LS $1,000.00 $1,000.00 Construction Surveying 1 LS $2,600,00 $2,500.00 Mobilization 1 LS $3,000.00 $3.000.00 General Sitework Subtotal $35 630.00 Pavements Road Base - 8" - Utility Work 330 TONS $25,00 $8,244.58 Road Base - 8" - Shared Drive (Lot 136-140) 675 TONS $25.00 $16,869.79 Road Base - 8" - Shared Drive (Lot 141-145) 442 TONS $25.00 $11,041.67 Road Base - 8" - Fire Access 189 TONS $95.00 $17,951.04 Asphalt Paving - 3" - Utility Work 148 TONS $95.00 $14,098.59 Asphalt Paving - 3" - Shared Drive (Lot 136-140) 262 TONS $95.00 $23.957.81 Asphalt Paving - 3" - Shared Drive (Lot 141-145) 165 TONS $95.00 $15,683.91 Asphalt Paving - 3" - Fire Access 70 TONS $95.00 $6,661.88 T-Patch - 5" Asphalt inc. 8" Road Base (CDOT CI 6 736 SF $15.00 $11,032.50 Pavements Subtotal $125 541.77 Utility - Water 2" water service wl curbstop - Domestic 23 EA $2,500.00 $57,500.00 1" water service w/ curbstop - Non -Potable 23 EA $1,200.00 $27,600.00 Remove Existing Meter & Pit 4 EA $500.00 $2,000.00 Tracer Wire 1,920 LF $0.20 $384.00 Tracer Wire Test Station 3 EA $100.00 $300.00 Water Line - 6" DIP - FH Lateral 54 LF $50.00 $2,700.00 Water Line - 8" DIP 671 LF $55.00 $36,905.00 Gate Valve - 8" wl Box 2 EA $800.00 $1.600.00 Bend - 8" (less than 90 degrees) 6 EA $450.00 $2,700.00 Cap - 8" - abandoned main 2 EA $200.00 $400.00 Fire Hydrant Assembly - 6" 2 EA $4,000.00 $8,000.00 Utility - Water Subtotal $140 089.00 Utility. Gas Telephone, Electric Gas Main Trenching 80 LF $25.00 $2.000.00 Joint Shallow Utility Trenching 350 LF $25.00 $8,750.00 Install Supplied Electric 4" Conduit 350 LF $2.00 $700.00 Supply & Install 2" Conduit for Phone & CATV 350 LF $5.00 $1,750.00 Supply & Install Communication Handhole & Box 1 EA $1,200.00 $1,200.00 Supply & Install Junction Box - Lot Service 1 EA $500.00 $500.00 Tracer Wire 780 LF $0.20 $156.00 Tracer Wire Test Station 3 EA $100.00 $300.00 Utility - Gas Telephone, Electric Subtotal $15 356.00 Erosion Control Erosion Control 1 LS $3,000.00 $3,000.00 Erosion Control Subtotal $3,000.00 Subtotal $319,616.77 Additional Landscape Contingency (25% of Revegelation) $626.00 PROJECT TOTAL $320,241.77 Construction Schedule: Construction of the above public improvements is expected to begin June 2, 2021 or upon receiving approval from Eagle County. Construction is expected to be completed within one year. Engineers opinions of probable Construction Cost provided for herein are to made on the basis of Engineers experience and qualifications and represent Engineer's best judgment as an experienced and qualified professional generally tarriliar with the industry However, since the Engineer no control over the cost of labor equipment, or services furnished by others, or over the Contractor's methods of determining prices, or over compe bidding or market conditions, Engineer cannot and does not guarantee that proposals, bids, or actual Construction Cost will not vary from opinions, probable Construction Cost prepared by Engineer, Actual required quantities will vary from this estimate. Owner/Contractor to verify all required quantities and otter estimate items, permits, foes. etc. not included above that may be specified in the Construction documents. If Owner wishes & greater assurance as to probable Constructor. C¢ t, Owner shall employ an independent ocst estirnator. B c4•��,y 789 �■ i • • }t •r� ns yea{• /n AI } 12021 DocuSign Envelope ID: 6134ABF79-7476-40138-A21 M615EDD8 iE2 EXHIBIT C EXPLANATION OF FINANCIAL DISCREPANCY DocuSign Envelope ID: 6D4ABF79-7476-40DB-A21B-6615EDD806E2 EAGLE COUNTY LOC 3 messages Holly Strablizky<hollystrablizky@eaglecounty.us> To: Dominic Mauriello <dominic@mpgvail.com> Cc: Richard Davies <richard.davies@eaglecounty.us> ■ q 9 3 M� -: Richard Davies <richard.davies@eaglecounty.us> Wed, May 26, 2021 at 4:07 PM I talked with Beth about it and we are fine with the way you would like to proceed. FYI, the problem is that the LOC is $2K more than is required by the SIA. For record keeping, Rickie can you make a note in your file on this SIA that we need to release the extra $2,000 as an overage when we do the first partial release so that we get a new LOC in the right amount. Or in the case that its only one release that we understand why there is an extra $2,000 there. I hope that makes sense and helps! Best Regards HKS Holly K. Strablizky Eagle County Government Assistant County Attorney POB 85o 500 Broadway Eagle, CO 81631-0850 970-328-8692 THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDMDUAL OR ENTITY TO WHICH IT IS ADDRESSED AND MAY CONTAIN INFORMATION THAT IS PRIVILEGED, CONFIDENTIAL AND EXEMPT FROM DISCLOSURE UNDER APPLICABLE LAW. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution, forwarding, copying of or taking action in reliance on the contents of this communication is strictly prohibited. If you receive this communication in error, please notify the sender immediately by e-mail or telephone, and delete the original message immediately. Thank You. , Richard Davies <richard.davies@eaglecounty.us> To: Holly Strablizky <holly.strablizky@eaglecounty.us> Cc: Dominic Mauriello <dominic@mpgvail.com> Noted. (Quoted text hidden( Rickie Davies, P.E., PTOE Senior Staff Engineer P.O. Box 850 500 Broadway Eagle, CO 81631 Work Phone: 970.328.3567 Cell Phone: 414.397.1457 Email: richard.davies@eaglecounty.us Wed, May 26, 2021 at 4:34 PM Dominic Mauriello <dominic@mpgvaii.com> Wed, May 26, 2021 at 4:37 PM To: Holly Strablizky <holly.strablizky@eaglecounty.us> Cc: Richard Davies <richard.davies@eaglecounty.us> DocuSign Envelope ID: bD4ABF79-7476-4UDB-A21B.fib 1tF-DILMOb=2 Thank you! Dominic F. Mauriello, AICP Mauriello Planning Group, LLC PO Box 4777 2205 Eagle Ranch Road Eagle, Colorado 81631 970-376-3318 cell www.mpgvaii.com On May 26, 2021, at 6:07 PM, Holly Strablizky <holly.strablizky@eaglecounty.us> wrote: (Quoted text hidden)