HomeMy WebLinkAboutConsent No. 2025-01 First Partial Collateral Release and Commencement of Warranty Period_Cordillera Valley Club File No. PDF-009123-2020Co
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BOARD OF COUNTY COMMISSIOINERb
COUNTY OF EAGLE, STATE OF COLORADO
CONSENT NO.2025-01
AUTHORIZING THE FIRST PARTIAL RELEASE OF COLLATERAL AND
COMMENCEMENT OF THE WARRANTY PERIOD FOR
CORDILLERA VALLEY CLUB FILING 10
FILE NO. PDF-009123-2020
WHEREAS, pursuant to C.R.S. § 30-28-137, the Board of County Commissioners of the
County of Eagle, State of Colorado ("County") entered into a Subdivision and Off -site
Improvements Agreement dated July 20, 2021 (the "SIA") with Cordillera Valley Club Land
Company, LLC, a Colorado limited liability company ("Subdivider") for the Cordillera Valley
Club Filing 10 Subdivision ("the Subdivision"); and
WHEREAS, Subdivider provided collateral in the form of a letter of credit in the amount
of $85,052.00, which represented 100% of the estimated cost of the Subdivision Public
Improvements in collateral to be held by the County; and
WHEREAS, Subdivider has represented to the County that the Subdivision Improvements
required under the SIA have been completed and the Subdivider has requested a partial release of
collateral and commencement of the two-year warranty period; 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 the
Subdivision appear to be completed as of November 6, 2023, and a partial reduction in the
collateral and the commencement of the warranty period is warranted; and
WHEREAS, pursuant to Resolution 95-35, the Chair of the Board of County
Commissioners, or in their absence, the Chairman Pro Tern, has the authority to approve partial
releases of collateral and to approve commencement of the warranty period under an SIA once
recommended for approval by the County Engineer and 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
commencement of the warranty period under the SIA 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 hereby authorizes this partial release of collateral in the amount of
$76,546.80, thereby reducing the required collateral to $8,505.20, which represents the collateral
for the Subdivision Improvements for the Subdivision to be held for the two-year warranty
period under the SIA.
Docusign Envelope ID: F74AE3DF-EFC5-43B3-BC2D-D1AE344D926B
THAT, the date of completion of the Subdivision Improvements of the Subdivision is
November 6, 2023, as established by the Eagle County Engineering Department, and this partial
release of collateral does commence the warranty period for said Subdivision Improvements,
which period shall begin on November 6, 2023, and end on November 6, 2025.
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 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 the
form of a revised letter of credit or a cash deposit, 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 13th day of
7anuary .2025.
COUNTY OF EAGLE, STATE OF
COLORADO, by and Through Its
CHAIR TO THE BOARD OF COUNTY
COMMISSIONERS
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Signed by:'ll SC.
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By: 81E7B1nZ18E0979
Matt Scherr, Chair
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Signed by:
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Beth Oliver, County Attorney
EAGLE COUNTY ENGINEER
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Ben Gerdes, County Engineer
Docusign Envelope ID: F74AE3DF-EFC5-43B3-BC2D-D1AE344D926B
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Tracy Stowell, Eagle County Attorney's Office
FROM: Taylor Ryan, Engineering Department
DATE: December 6, 2024
RE: Subdivision Improvements Agreement - Cordillera Valley Club Filing 10 - Eagle
County File No. PDF-009123 - Authorization for the First Partial Collateral Release and Start
of the Warranty Period
A Subdivision and Off -Site Improvements Agreement (SIA) for the Cordillera Valley Club
Filing 10 Final Plat, File No. PDF-9123, ("the Agreement'l was executed on July 20, 2021, to
collateralize the Public Improvements for the Cordillera Valley Club Filing 10 development.
Jeff Townsend with Resort Concepts requested a final inspection of the improvements on
November 6, 2023. The required improvements were approved following that inspection.
Upon review of the documentation, additional documents were required before starting
the warranty period, including approval of the work by the developer's engineer of record.
The additional documentation was received on August 12, 2024, and subsequently
accepted by the Eagle County Engineering Department for the partial release of collateral
and commencement of the warranty period.
The Engineer's Estimated Cost of the Public Improvements and the total collateral held
under the Agreement was:
Public Improvements = $85,052.00
The Eagle County Engineering Department recommends a reduction of the Public
Improvements collateral in the total amount of $76,546.80 from the $85,052.00 collateral
held. A total collateral balance of $8,505.20 shall be retained. The remaining collateral
retains the 10% of Public Improvements which are to be retained by the County for a
period of two (2) years, as stated in Section 2.3 Subdivision Improvements Agreement.
This inspection and consent to collateral release do start the warranty period anticipated
to end two -years from the date of the final inspection which was on November 6, 2023.
The Warranty Period will end on November 6, 2025.
cc: Ben Gerdes, County Engineer
Docusign Envelope ID: F74AE3DF-EFC5-43B3-BC2D-D1AE344D926B
Attachment: Exhibit A
EXHIBIT
COSTS FOR SUBDIVISION IMPROVEMENTS
Docusign Envelope ID: F74AE3DF-EFC5-43B3-BC2D-DIAE344D9266
CORDILLERA VALLEY CLUB, EDWARDS CO
Public Improvements
ENGINEER'S ESTIMATED COST
February 17, 2021
Quantity
Engineers Esihnatc
Item Description
Unit Cost
Cost
1 Mobilization
I L.S.
S3,500.00
$3,500.00
2 Traffic Control
I L.S.
S4,000.00
$4,000.00
3 Erosion Control
I L.S.
$4,000.00
$4,000.00
4 Asphalt Saw Cut & Rotomill
350 LF
$15.00
$5,250.00
5 Top Soil Removal & Replacement
80 CY
$4.50
$360.00
6 Project Excavation (Cut, Fill & Compaction)
100 CY
$15.00
$1,500.00
7 Concrete Curb & Gutter w/4" CL6
449 LF
$32.00
$14,368.00
8 Valley Pans & Curb Return Apron
1546 SF
$7.00
$10,822.00
9 Road Pavement Replace - (4" Asp, 12" CL6, SG Comp)
214 SY
$58.00
$12,412.00
10 Modify Ex 4' Dia Sewer Manhole for Connector
1 EA
$4,000.00
$4,000.00
11 CDOT Type 13 Double Inlet w Connections
1 EA
$11,000.00
$11,000.00
12 18" ADS-N12 Storm Sewer
50 LF
$120.00
$6,000.00
13 8" Nominal Size Riprap
34 CY
$40.00
$1,360.00
14 Water Service Line Trenching & Sackful
162 LF
$40.00
$6,480.00
TOTAL
$85,052.00
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