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HomeMy WebLinkAboutR24-098 Final Release of Collateral - Termination of Warranty Period for Frost Creek Filing No. 5 Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A Eagle County, Co 202415449 Regina O'Brien 12/18/2024 Pgs: 21 01:49:51 PM REC: $0.00 DOC: $0.00 Commissioner McQueeney moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2024 - 098 RESOLUTION APPROVING FINAL RELEASE OF COLLATERAL AND TERMINATION OF WARRANTY PERIOD FOR FROST CREEK FILING NO. 5 FROST CREEK AND SALT CREEK PUD File No. PDF-009126-2020 WHEREAS,pursuant to C.R.S. § 30-28-137, 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 (hereinafter " Subdivider"), for the construction of certain Subdivision Improvements associated with Frost Creek Filing No. 5, of Frost Creek and Salt Creek PUD; and WHEREAS,the SIA was amended by the parties pursuant to a First Amendment to Subdivision and Off-Site Improvement Agreement (the"First Amendment") dated March 1, 2022; and WHEREAS,pursuant to the SIA and the First Amendment, Subdivider provided the County with collateral securing construction of the Subdivision Improvements identified in the SIA in the form of a letter of credit in the amount of$322,241.77, of which $320,241.77 represented 100% of the estimated cost of the Subdivision Improvements; and WHEREAS, in 2022, Subdivider represented to the County that the Subdivision Improvements required under the SIA were complete and applied for a first partial release of collateral; and WHEREAS,pursuant to Eagle County Consent No. 2022-04, the Board of County Commissioners (the "Board") authorized a first partial release of collateral in the amount of $290,217.59, thereby reducing the required collateral to $32,024.18, which represented the SIA collateral retainage to be held by the County for the warranty period under the SIA; and WHEREAS,pursuant to Consent No. 2022-04, the two-year warranty period for the Subdivision Improvements associated with the SIA was commenced as of November 30, 2022; and 1 Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A WHEREAS, Subdivider has represented to the County that the Subdivision Improvements 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. The Engineering Department recommends full release of the collateral and the termination of the SIA. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF 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 $32,024.18 being held by the County as collateral. 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 Frost Creek Filing No. 5, of Frost Creek and Salt Creek PUD has been successfully completed and that the Subdivider's obligations under the SIA are complete. 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. [Remainder of page left intentionally blank] 2 Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 17th day of December, 2024. Signed by: COUNTY OF EAGLE STATE OF OE EaG(F� , COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS (oRoP ATTEST: (—Signed by: �—Signed by: L dkar .191362F216806110...titer01t� By: ilitAtt 2S10C 473... Clerk to the Board of Matt Scherr County Commissioners County Commissioners Chair DocuSigned by: nA4AC:17AFRAA47A Jeanne McQueeney Commissioner ESiiJg�lnAeldlby: 4G11011 86A681FFEB84403... Kathy Chandler-Henry Commissioner Commissioner chandl er-Henry seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Scherr Aye Commissioner McQueeney Aye Commissioner 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:25BEFB2C-CA29-446F-820A-4F8FEBF1434A EXHIBIT A ENGINEERING DEPARTMENT MEMORANDUM 4 Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A MEMORANDUM EAGLE COUNTY ENGINEERING TO: Tracy Stowell, Eagle County Attorney's Office FROM: Rickie Davies, Engineering Department DATE: December 2, 2024 RE: Subdivision Improvements Agreement, Frost Creek Filing 5, Eagle County File No. PDF-009126-2020 Authorization of the Final Collateral Release The 2 year warranty period for the Subdivision and Off-Site Improvements for Frost Creek PUD Filing 5 started on November 30, 2022 as stated in Consent No. 2022-04, see attached. 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 • The first partial collateral release was approved on December 9, 2022 in the amount of$290,217.59. Total Collateral Amount = $322,241.77 First Partial Collateral Release = $290,217.59 Remaining Collateral Amount = $32,024.18 The remaining collateral amount of $32,024.18, is 10% of all public 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, $32,024.18, was retained for 2 years from the date of inspection,November 30, 2022. The Eagle County Engineering Department performed an inspection confirming the work has passed the warranty period on December 2, 2024. Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A *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 the release of the remaining collateral in the amount$32,024.18. # # # 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, Consent No. 2022-04, Summary of Collateral Release, Site Photos Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A JVA,Incorporated Job Name:Hunters View Lane 817 Colorado Ave,Suite 301 -Phase 2 Glenwood Springs,CO 81601 Job Number:2476.15.2c CONSULTING ENGINEERS Ph: 970.404.3100 Date:05/21/2021 By:RMM/JLS 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 $2,500.00 $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) 252 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 w/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"w/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 Revegetation) $625.00 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. \\\\\I I I I I I I I I I I///// Engineer's opinions of probable Construction Cost provided for herein are to made on the basis of Engineer's experience and qualifications and \ RE represent Engineer's best judgment as an experienced and qualified professional generally familiar with the industry. However,since the Engineer ha�\\ 40010.99...`G/c' no control over the cost of labor,equipment,or services furnished by others,or over the Contractor's methods of determining prices,or over competi 0 • • bidding or market conditions,Engineer cannot and does not guarantee that proposals,bids,or actual Construction Cost will not vary from opinions 0�''c0\-•S P0ti:AP j probable Construction Cost prepared by Engineer. Actual required quantities will vary from this estimate. Owner/Contractor to verify all required �)♦ 0• quantities and other estimate items,permits,fees,etc.not included abdve that may be specified in the Construction documents. If Owner wishes Q 4�1789 �7 iO greater assurance as to probable Construction Cost,Owner shall employ an independent cost estimator. • i 13 • • �/////////0IIIAI 1/2021 Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A EAGLE COUNTY Richard Davies <richard.davies@eaglecounty.us> LOC 3 messages Holly Strablizky <holly.strablizky@eaglecounty.us> Wed, May 26, 2021 at 4:07 PM To: Dominic Mauriello <dominic@mpgvail.com> Cc: Richard Davies <richard.davies@eaglecounty.us> Hi Dominic 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 H KS Holly K.Strablizky Eagle County Government Assistant County Attorney POB 85o 500 Broadway Eagle, CO 81631-0850 97o-328-8692 THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL 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> Wed, May 26, 2021 at 4:34 PM 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 Dominic Mauriello <dominic@mpgvail.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:25BEFB2C-CA29-446F-820A-4F8FEBF1434A 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.mpgvail.com On May 26, 2021, at 6:07 PM, Holly Strablizky<holly.strablizky@eaglecounty.us>wrote: [Quoted text hidden] Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A 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 l00°,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 C Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A 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 Docuslgned by: 1 By: CMAC128r8M47A. Jeanne McQueeney,Chair EAGLE COUNTY ATTORNEY Docuslvned by. By: te4AU Brya781n V.1T11u, County Attorney EAGLE COUNTY ENGINEER DocuSigned by: &A GCr B y 0544D7CbD42447C Ben Gerdes, County Engineer 2 Docu sign Envelope ID`25BEFB2C-CA29-446F-820A_4F8FEBF1434A EXHIBIT A ENGINEERING DEPARTMENT MEMORANDUM 3 Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A 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:25BEFB2C-CA29-446F-820A-4F8FEBF1434A 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:25BEFB2C-CA29-446F-820A-4F8FEBF1434A JVA,Incorporated Job Name:Hunters View Lane • 817 Colorado Ave,Suite 301 -Phase 2 WI I Glenwood Springs,CO 81601 Job Number:2476.15.2c ro.aWu rr+: � ..•-a<° Ph: 970.404.3100 Date:45/2i12021 By:RMM/JLS 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 $2,500.00 $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) 252 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 Cl 6) 736 SF $15.00 $11,032.50 Pavements Subtotal $125,541.77 Utility-Water 2"water service w/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"w/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 5140,089.00 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&CAN 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 5319,616.77 Additional Landscape Contingency(25%of Revegetation) _mm $625.00 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. 041111!!1/JJ// Engineer's opinions of probable Construction Cost provided for heren are to made on the basis•if Engineer s experience and qualifications and \\\\\\\\ ��G represent Engineer's best judgment as an experienced and qualified professional generally familiar with the industry However,since the Engineer ha y\\ „p,� /sT no control over the cost of labor equipment,or services furnished by others,or over the Contrator's methods of determining prices,or over competi \ Oaf`♦'♦ • bidding or market conditions,Engineer cannot and does not guarantee that proposals,bids,or actual Construction Cost will riot vary from opinions jv�♦ c, -- S p(/4.�' probable Construction Cost prepared by Engineer, Actual required quantities will vary from th,:estimate Owner/Contractor to verify all required a�� 0 Q quantities and other estimate items,permits,fur.: etc.riot included above that may be specified in the Construction documents. If Owner wishes • ��� : _ greater assurance as to probable Construction Cost,Owner shall employ an;ndependent t,.st estimator = 4 a f �-p ♦ ♦♦tom //////J/�llfl � F l 1/2021 Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A EXHIBIT B OPINION OF PROBABLE CONSTRUCTION COSTS 4 a Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A EXHIBIT C EXPLANATION OF FINANCIAL DISCREPANCY 5 Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A ito.• EAGLE COUNTY Richard Davies<richard.davies@eaglecounty.us> LOC 3 messages Holly Strablizky<holly strablizky@eaglecounty.us> Wed, May 26, 2021 at 4:07 PM To: Dominic Mauriello<dominic@mpgvail.com> Cc: Richard Davies <richard.davies@eaglecounty.us> Hi Dominic 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 97o-328-8692 THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL 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> Wed, May 26, 2021 at 4:34 PM 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 Dominic Mauriello <dominic@mpgvail,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:25BEFB2C-CA29-446F-820A-4F8FEBF1434A 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,mpgvail com On May 26, 2021, at 6:07 PM, Holly Strablizky<holly.strablizky@eaglecounty.us>wrote: (Quoted text hidden] Docusign Envelope ID:25BEFB2C-CA29-446F-820A-4F8FEBF1434A Summary of Collateral Release 'Total Public Improvements $ 320,241.77 10% of Collateral that must be held for 2 years $ 32,024.18 Financial Discreprancy $ 2,000.00 Total Public Improvement Collateral $ 322,241.77 Maximum Amount that can be released $ 290,217.59 1st Collateral Request (12/9/22) $ 290,217.59 Balance $ 32,024.18 Final Collateral Request (12/2/24) $ 32,024.18 Balance $ - i ipi ,il - 4 , , 1 ' ' , . .,. . .- •'- . i 4. I' / 1 At„ . 1 1 ' I 4 I .., t,, ,4, . • 1 ,..-..$ ,,. , ) , .;,•,, , . , „. . (, , • ,'; ' "",t 1' Pi, 1 N . ',. 111,1' . • 7 , A• •1,,t!* 'r.'f .- . 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