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HomeMy WebLinkAboutR24-049 Final Release of Collateral and Termination of Warranty Period for Boulders Subdivision Docusign Envelope ID:3A56567B-F537-4D98-AAC5-D5D092E5DFAA co) Commissioner chandler-Henry moved adoption N of the following Resolution: CA a N N N a� BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO Na 1- RESOLUTION NO. 2024- 049 0 RESOLUTION APPROVING FINAL RELEASE OF COLLATERAL AND v TERMINATION OF WARRANTY PERIOD FOR 0 0 0 BOULDERS SUBDIVISION o 9 co 40 .= 6 vi 6 FILE NO. SUF-7165 i' v�w O w ftaao 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 Improvements Agreement dated December 5, 2017 (the"Agreement") with 3010 BASINGDALE, LLC, a Colorado limited liability company("Subdivider") for the Boulders Subdivision; and WHEREAS, Subdivider provided collateral in the form of a First Bank letter of credit in the amount of$56,822.50, representing the estimated cost of the Subdivision and Off-Site Improvements associated with the Boulders Subdivision(the "LOC"); and WHEREAS, in February 2019, Subdivider represented to the County that certain Subdivision Improvements required under the Agreement were partially completed and Subdivider applied for a first partial release of collateral. Eagle County Consent No. 2019-01 was approved by the County on February 18, 2019, recorded at Eagle County Reception No. 201902288, authorizing a partial release of collateral in the amount of$33,257.25. Subdivider thereafter decided to withdraw its request for a partial release of collateral, rendering Consent No. 2019-01 void, and the County continued to maintained the LOC for the original amount of$56,822.50; and WHEREAS, in February 2020, Subdivider represented to the County that certain Subdivision Improvements required under the Agreement were partially completed and Subdivider applied for a first partial release of collateral. Eagle County Consent No. 2020-03 was approved by the County on May 22, 2020, recorded at Eagle County Reception No. 202004310, authorizing a partial release of collateral, in the amount of$43,673.63; and WHEREAS, in January 2022, Subdivider represented to the County that certain Subdivision Improvements required under the Agreement were partially completed and Subdivider applied for a second partial release of collateral. Eagle County Consent No. 2022-01 was approved by the County on February 22, 2022, recorded at Eagle County Reception No. 202203096, authorizing a partial release of collateral, in the amount of$7,466.63; and WHEREAS,pursuant to Consent No. 2022-01, the two-year warranty period under the SIA was commenced as of February 22, 2022, for the Subdivision Improvements and Landscape Docusign Envelope ID:3A56567B-F537-4D98-AAC5-D5D092E5DFAA improvements associated with Boulders Subdivision SIA; and, WHEREAS, Subdivider has represented to the County that the Subdivision Improvements and Landscape required under the SIA have been completed and have survived the warranty period, and the Subdivider has applied for a final release of collateral; and WHEREAS,based upon the written recommendation of the County Engineer as set forth in Exhibit A attached hereto and incorporated herein, the work required under the SIA is complete, has survived the warranty period, and is acceptable per the terms and conditions of the SIA, and the Engineering Department recommends full release of the collateral and the termination of the SIA. 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 Board finds that the Subdivider's obligations under the SIA have been satisfied and hereby authorizes the final release of the $5,682.24 being held by the County as collateral; and THAT, this Resolution shall be recorded in the records of the Eagle County Clerk and Recorder, which shall be evidence that the warranty period for Boulders Subdivision has been successfully completed and that the Subdivider's obligations under the SIA are complete; and THAT, the BOARD further finds, determines, and declares that this Resolution is necessary for the health, safety and welfare of the inhabitants of the County of Eagle, State of Colorado. MOVED,READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 14th day of August , 2024. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] Docusign Envelope ID:3A56567B-F537-4D98-AAC5-D5D092E5DFAA c— Signed by: of � COUNTY OF EAGLE, STATE OF Ar COLORADO, by and Through Its BOARD �) OF COUNTY COMMISSIONEERS aocP ATTEST: Signed by: bletiaitAA 02 u, Signed by: F9DA2F2A6A06AA0 bAuttJ davr Regina O'Brien, Clerk to the Board of By: 81E7B2D718E0473... County Commissioners Matt Scherr County Commissioners Chair DocuSigned by: CmAc428F8M17' . Jeanne McQueeney County Commissioner "—Signed by: WI"' CLItAlikr4tjAril `.—RRARRIFFFARAAn4 Kathy Chandler-Henry County Commissioner Commissioner McQueeny seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Scherr Aye Commissioner McQueeney Aye Commissioner Kathy Chandler-Henry Aye This Resolution passed by 3/0 vote of the Board of County Commissioners of the County of Eagle, State of Colorado Docusign Envelope ID:3A56567B-F537-4D98-AAC5-D5D092E5DFAA EXHIBIT A Docusign Envelope ID:3A56567B-F537-4D98-AAC5-D5D092E5DFAA MEMORANDUM EAGLE COUNTY ENGINEERING TO: Tracy Stowell, Eagle County Attorney's Office FROM: Julie Pranger, Engineering Department DATE: August 2, 2024 RE: Boulders Subdivision Improvements Agreement Authorization of the Final Collateral Release and Termination of Warranty Period The 2 year warranty period for the Subdivision and Off-Site Improvements for the Boulders Subdivision started on February 22, 2022, as stated in Consent No. 2022-01. The original amount from the signed Subdivision and Off-Site Improvements Agreement was $56.822.50. The first partial release was approved on May 12, 2020 in the amount of $43,673.63 leaving $13,148.87 collateralized. Total Collateral Amount =$56.822.50 First Partial Collateral Release =$43,673.63 Remaining Collateral Amount =$13,148.87 After First Partial Release The second partial release was approved on February 22, 2022 in the amount of $7,466.63 leaving $5,682.26 collateralized. Remaining Collateral Amount =$13,148.87 Second Partial Collateral Release =$7,466.63 Remaining Collateral Amount =$5,682.26 The remaining collateral amount of $5,682.26, is 10% of all public improvements and 25% of all landscaping improvements that shall be retained until the improvements have been maintained in a satisfactory condition for two (2)years, as stated in ECLUR Section 5-240.F.3.h. The amount, $5,682.26, was retained for 2 years from the date of second collateral release, February 22, 2024. The Eagle County Engineering Department performed an inspection confirming the work has passed the warranty period on July 25, 2024. Docusign Envelope ID:3A56567B-F537-4D98-AAC5-D5D092E5DFAA The Eagle County Engineering Department recommends the release of the remaining collateral in the amount$5,682.26. # # # cc: Ben Gerdes, County Engineer Beth Oliver, County Attorney Mike Dantas, 3010 BASINGDALE LLC Attachments: Attachment A: Boulders Subdivision Collateral Tracking Summary Attachment B: Engineer's Opinion of Probable Cost : , 1IiH1HJIiIIHIIH11ii1O:IHI I: 1 _,,,F., ! ,, D 8 El '^ a�^ v 7 i Ln ilII a m D { w rn N W C _ v o O om $ a _ 3 LLa z ; it - 3c - - u�= E 1m u E ; u 3; g m g 3 3 3 3 s `241 c m8m m�'� - mo` m— ac c% au. e E W lit M S m a .. . .. ,n r ...4 .y w 0 A U O M1 Docusign Envelope ID:3A56567B-F537-4D98-AAC5-D5D092E5DFAA Attachment B- Engineer's Opinion of Probable Cost Eagle County File No.SUF-7165 First Amendment to Boulders Subdivision 11/22/2017 Preliminary Engineer's Opinion of Probable Costs Public Improvements ITEM DESCRIPTION Quantity Units Unit Price Amount Drainage 1 Install Drainage Ditch 385 LF $ 3.00 $ 1,155.00. 2 Seeding 0.27 AC $ 4,500.00 $ 1,215.00 Subtotal $ 2,370.00 Sewer 3 Install 8"C900 Sewer Line 315 LF $ 54.00 $ 17,010.00. 4 Install 8"Yelomine Sewer Line,Directional Bore 1 EACH $ 4,000.00 $ 4,000.00, 5 Install Sewer Manholes 4 EACH $ 3,600.00 $ 14,400.00 Subtotal $ 35,410.00 Erosion Control • 6 Install Straw Wattles 8 EACH $ 60.00 $ 480.00 7 Install and Maintain Silt Fence 425 IF $ 2.50 $ 1,062.50 Subtotal $ 1,54230 Total Phase 1 $ 39,322.50 �7__.. � • �.�;� .- ref..��' - f ITEM DESCRIPTION Quantity Units Unit Price Amount Drainage 8 Install.Drainage Ditch - 165 IF $ 3.00 -$ 495.00 9 Seeding 0.05 AC $ 4,500.00 $ 225.00 Subtotal $ 720.00 Sewer 10 Install 8"C900 Sewer Line 140 LF $ 54.00 $ 7,560.00 1i Install Sewer Manholes 1 EACH $ 3,600.00 $ 3,600.00 Subtotal $ 11,160.00 Erosion Control 12 Install Straw Wattles 4 EACH $ 60.00 $ 240.00 13 Install and Maintain Silt Fence 152 LF $ 2.50 $ 380.00 Subtotal $ 620,00 Total Phase 2 $ 12,500,00 Contingency $ 5,000,00 Total of Phase 1 and Phase 2 $ 56,822.50 S. • . 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