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Home My WebLink AboutConsent No. 2025-02 First Partial Collateral Release and Commencement of Warranty Period for Northstar Center PUD File No. AFP-9309-2022Docusign Envelope ID: 82AE93D8-2164-4427-ABAO-076AE6OA16EC BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO CONSENT NO.2025-02 AUTHORIZING THE FIRST PARTIAL RELEASE OF COLLATERAL AND COMMENCEMENT OF THE WARRANTY PERIOD FOR NORTHSTAR CENTER PLANNED UNIT DEVELOPMENT FILE NO. AFP-9309-2022 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 Improvements Agreement dated April 4, 2023 (the "SIA") with Eagle River Real Estate Holdings, LLC, a Colorado limited liability company ("Subdivider") for the Northstar Center Planned Unit Development (the "PUD"); and WHEREAS, Subdivider provided collateral in the form of a letter of credit in the amount of $627,615.00, which represented 100% of the estimated cost of the Subdivision Improvements ($117,825.00) and 125% of the estimated cost of the Landscape Improvements associated with the PUD ($509,790.00) in collateral to be held by County; and WHEREAS, Subdivider has represented to County that the Subdivision Improvements required under the SIA have been completed and 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 PUD appear to be completed as of December 4, 2024, 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 Tem, 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 $513,874.50, thereby reducing the required collateral to $113,740.50, which consists of $11,782.50 in collateral for the Subdivision Improvements and $101,958.00 in collateral for the Eagle County, CO 202501716 Stacey Jones 02/07/2025 Pgs: 6 12:34:27 PM REC: $0.00 DOC: 0.00- --- - — - - - Docusign Envelope ID: 82AE93D8-2164-4427-ABAO-076AE60A16EC Landscape Improvements for the PUD to be held for the two-year warranty period under the SIA. THAT, the date of completion of the Subdivision Improvements and Landscape Improvements for the PUD is December 4, 2024, as established by the Eagle County Engineering Department and Community Development Department, and this partial release of collateral does commence the warranty period for said Subdivision Improvements and Landscape Improvements, which period shall begin on December 4, 2024, and end on December 4, 2026. 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 6 day of February 2025. COUNTY OF EAGLE, STATE OF COLORADO, by and Through Its CHAIR TO THE BOARD OF COUNTY COMMISSIONERS DocuSigned by: By: Jeanne McQueeney, Chair EAGLE COUNTY ATTORNEY Signed by: By: mut,V' Beth Oliver, County Attorney EAGLE COUNTY ENGINEER C Dgcuftned by: "S By: n5edD1cRm2"7" Ben Gerdes, County Engineer Docusign Envelope ID: 82AE93D8-2164-4427 ABAO-076AE6OA16EC MEMORANDUM EAGLE COUNTY ENGINEERING TO: Tracy Stowell, Eagle County Attorneys Office FROM: Taylor Ryan, Engineering Department DATE: January 3, 2025 RE: Subdivision Improvements Agreement - Northstar Center Planned Unit Development - Eagle County File No. AFP-9309 - Authorization for the First Partial Collateral Release and Start of the Warranty Period A Subdivision and Off -Site Improvements Agreement (SIA) for the Northstar Center Planned Unit Development Amended Final Plat, File No. AFP-009309 ("the Agreement") was executed on April 4, 2023, to collateralize the Public Improvements for the Northstar Center Planned Unit Development. Chance Warren with Haseldon Construction requested a final inspection of the improvements on December 4, 2024. The required improvements and documentation were approved following that inspection and subsequently accepted by the Eagle County Planning Division and 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: Landscape Plan = $407, 832 Additional 25% for Collateral = $101,958 Total Landscape Plan Collateral = $509,790 Fencing Collateral = $117,825 Total Public Improvements = $627,615 The Eagle County Engineering Department recommends a reduction of the Landscape Plan Collateral in the amount of $407,832 from the $509,790 Landscape Plan Collateral. The balance of $101,958 shall be held for the. two-year warranty period. The remaining Landscape Plan Collateral represents 25% of the Landscape Plan Collateral to be held for the two-year warrant period per Section 2.1.3 of the Agreement. The Eagle County Engineering Department recommends a reduction of the Fencing Collateral in the amount of $106,042.50 from the $117,825 Fencing Collateral held. A balance of $11,782.50 shall be retained from the Fencing Collateral. The remaining Fencing Collateral represents 10% of the total Fencing Collateral to be held for the two-year warranty period per Section 2.2.3 of the Agreement. Docusign Envelope ID: 82AE93D8-2164-4427-ABAO-076AE6OA16EC The Eagle County Engineering Department recommends a reduction of the Public Improvements collateral in the total amount of $513,874.50 from the $627,615.00 collateral held. Atotal collateral balance of $113,740.50 shall be retained. The remaining collateral retains 25% of the Landscape Plan Collateral and 10% of the Site Wall Collateral to be held by the County for a period of two (2) years as described above. 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 December 4, 2024. The Warranty Period will end on December 4, 2026. cc: Ben Gerdes, County Engineer Janet Aluise, Senior Planner Attachment: Exhibit A Docusign Envelope ID: 82AE93D8-2164-4427-ABAO-076AE6OAi6EC EXHIBIT COSTS -FOR PUBLIC IMPROVEMENTS Docusign Envelope ID: 82AE93D8-2164-4427-ABAO-076AE6OA16EC BEHAVIORAL HEALTH INPATINENT HOSPITAL Schematic Design Estimate Ref Description Unit Oty Rate USD Total Cost USD Landscaping 69 Native seed - soil amendment -4CY/t000 SF SF 16.117 0.28 4,513 57 Native seed SY 1.791 1.80 3,224 58 Native seed - irrigation SF 16,117 1.50 24,176 63 Planting beds - scarify existing subgrade at planting beds SY 1,093 2.30 2,514 64 Planting beds - topsoil -6"deep CY 183 65.00 11,895 65 Planting beds Including plantings, mulch, edgers, etc. SF 9,835 6.00 59,010 66 Planting beds - irrigation SF 9,835 1.50 14,753 67 Deciduous tree-2-1/2" caliper EA 44 550.00 24,200 68 Ornamental tree EA 4 475.00 11900 160 Evergreen tree EA 36 675.00 24,300 94 Landscape boulder EA 49 360.00 17,640 155 Polymerbound aggregate- scarify and recompact subgrade-12"deep SY 1,344 2.30 3,091 154 Polymer bound aggregate paving -aggregate base course -6" deep CY 224 35.00 7,840 95 Polymer bound aggregate paving SF 12,092 16.50 199,518 99 Inorganic mulch SF 3,086 3.00 9,258 subtotal 407,832 Metal Panel Site Wall 510 Metal Panel applied to Site Wall SF 1,571 subtotal Total Improvments Estimate 75.00 117,825 117,825 525,657