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Home My WebLink AboutConsent No. 2025-03 First Partial Collateral Release_Two Rivers Village PUD Phase IV - File No. PDA-00028Eagle County, CO 202503964 Docusign Envelope ID: 97374573-A168-488D-87AB-FE19FAF51156 Becky Close 03/31/2025 Pgs: 14 09:22:21 AM REC: $0.00 DOC: $0.00 BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO CONSENT NO.2025-03 AUTHORIZING THE FIRST PARTIAL RELEASE OF COLLATERAL FOR TWO RIVERS VILLAGE PUD PHASE IV FILE NO. PDA-00028 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 Public Improvements Agreement dated October 8, 2024 (the "PIA") with FCAP Confluence, LLC ("Developer") for the Two Rivers Village Planned Unit Development Phase IV ("Subdivision") Public Improvements; and WHEREAS, Developer provided collateral in the form of an irrevocable letter of credit in the amount of $146,675.15, which represented 100% of the- estimated cost of the Public Improvements; and WHEREAS, Developer has represented to County that certain Public Improvements required under the PIA have been completed and the Developer 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 and supporting documentation set forth in Exhibits B-D, which are attached hereto and incorporated herein, and the recommendation of the County Attorney, THE COUNTY FINDS that certain Public Improvements associated with the Subdivision appear to be completed as of March 20, 2025 and a first 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 Tem, has the authority to approve partial releases of collateral once the release has been recommended for approval by the County Engineer and County Attorney; and WHEREAS, based upon the recommendation of the County Engineer attached hereto as Exhibits A, and the recommendation of the County Attorney, THE COUNTY FINDS that a first 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 $128,629.04, thereby reducing the required collateral to $18,046.11, which represents the estimated cost of remaining Public Improvements for the Subdivision; and THAT, this partial release of collateral does not represent County's acceptance of the work purportedly completed by Developer; and Docusign Envelope ID: 97374573-A168-488D-87AB-FEI 9FAF51156 THAT, this partial release of collateral does not commence the warranty period under the PIA; and THAT, this partial release of collateral shall not in any way abrogate the rights of County in enforcing Developer's performance of its outstanding obligations under the PIA; and THAT, this partial release is contingent upon Developer retaining the remaining collateral in an acceptable form 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, on 3/27/2025 COUNTY OF EAGLE, STATE OF COLORADO, by and Through its CHAIR TO THE BOARD OF COUNTY EDccuftnecl by: Jeanne c ueeney, Chair EAGLE COUNTY ATTORNEY Signed by: By: Lam, (9-U" Beth aver, ounty Attorney EAGLE COUNTY ENGINEER by - By: Gcr�lt,5 By. E.G.BE Ben Gerdes, County Engineer Docusign Envelope ID: 97374573-A168-488D-87AB-FEI9FAF51156 EXHIBIT A MEMORANDUM EAGLE COUNTY ENGINEERING TO: Tracy Stowell, Eagle County Attorney's Office FROM: Julie Pranger, Engineering Department DATE: March 20, 2025 RE: Subdivision Improvements Agreement, Two Rivers Village Phase VI Authorization of the First Partial Collateral Release A written request for reduction of the collateral for the construction of portions of the improvements under the agreement was received from Quint Nichol on February 14, 2025. The original amount from the signed Subdivision and Off -Site improvements Agreement was: Public Improvements = $146,675.15 Landscaping = $0.00 Total Collateral Amount = $146,675.15 The Eagle County Engineering Department performed an inspection and confirmed the amount of work completed. Construction items were checked for completion as listed on the Engineer's Cost Estimate prepared by Sopris Engineering, LLC and provided here in Attachment C. The items requested for reduction were found to be constructed and completed in a satisfactory manner. The Eagle County Engineering Department recommends a reduction of the collateral in the amount of $128,629.04 from the $146,675.15. This will leave a balance of $18,046.11 collateral remaining. This reduction does not start the warranty period. cc: Ben Gerdes, County Engineer Attachments: Attachment B - Email Request for Collateral Reduction Attachment C - Subdivision and Landscape Estimates Attachment D - Collateral Reduction Tracking Spreadsheet Docusign Envelope to: 97374573-A768488D-87AB-FEI9FAF51156 rxtiiBIT B Confluence at Village Center - Bus Stop PIA — SE Project NO.33038 February 14, 2025 Page 1 of 1 Julie Pranger Eagle County Engineer Eagle County, Colorado julie.granger(Weaglecounty.us cc: Chad Cusworth Fortius Capital ocusworthAfortiuscaa.com RE: Confluence at Village Center— Bus Stop PIA — Letter of Construction Completion SE Project No. 33038 Dear Julie, Sopris Engineering, LLC (SE) is pleased to formally notify the County that the work and conditions have been completed for the Public Improvement Agreement — PDA-00028, also referred to as Bus Stop at 30 Buffalo Circle, Dotsero Area, Co. This includes work completed under Grad-030293-2024 and Comm-030920-2024 permits. Sopris Engineering made site reviews and construction observations between 12-30-2024 and 1-16-2025 of the sub -grade prep, rebar placement, construction form work and concrete placement. SE reviewed material testing results by Kumar and are attached to the acceptance letter. All appeared to match the approved construction drawings, details and specifications. We request that the landscape seeding,'and entrance improvements be removed out of this PDA and be part of the future construction of the private site improvements, which will be in process this year 2025 and be completed within the year 2026. We request that the Letter of credit in the amount of 146,675.15 be released and a new letter of credit of 14,667.52 be accepted, which is the 10% security, this security to be held for the warranty period of 2 years to start from final inspection of 1-21-2025. If you have any questions or need additional information, please contact me or Chad Cuswodh. Sincerely, SOPRIS ENGINEERING, LLC Int Nichol, Project Manager Enclosures: Grading Permit— GRAD 030293 Commercial Building Permit — COMM-030920-2024 Building Inspection Result dated 1-21-2025 Kumar & Associates Letter and Reports As -Built prepared by W—Mountain Surveys LLC 502 Main Street, Suite A3. Carbondale. CO 81623 970-704-0311 Docusign Envelope ID: 97374573-A168-488D-87AB-FEI9FAF51156 .;onfluence at Village Center- Bus Stop Construction Completion for PDA-00028 CEAGLE COUNTY Julie Pranger <julie.pranger@eaglecounty.us> 33038 Confluence at Village Center - Bus Stop Construction Completion for PDA- 00028 Quint Nichol <gnichol@sopriseng.com> Fri, Feb 14, 2025 at 2:33 PM To: Julie Pranger <julie.pranger@eaglecounty.us> Cc: Chad Cusworth <cusworth@fortiuscap.com>, Yancy Nichol <ynichol@sopdseng.com> Julie Attached la the Letter of Construction Completion for the Bus Stop at Dotsero - PDA-00028 and attachments. Please let me know if you have any questions or need additional information. Quint Nichol Sopris Engineering Office 970-704-0311 Cell 970-930-5340 5 attachments 33038-Excond-AS-BUILT-2-12-25 As -Built Map Update(1).pdf 542K ® 24-7-646 (02-04.25) CMT Compliance signed.pdf 1337K Final Inspection -Approved 1-21-25.pdf 49K n COMM-030920-2024.pdf 98K GRAD-030293-2024 Approved Grading Permit for Confluence SIA Project(1).pdf 95K https:llmail.google. com/mail/u/0/7ik=4adff3f3bl &view-pt&search=all&permmsgid=msg-f,.1824070091719727757&simpl=msg-f.1824070091719727757 ill Docusign Envelope ID: 97374573-A168488D-87AB-FEI9FAF51156 ,., . L.V. �......... ,__„-...,..,....;onfluenm at Village Center- Bus Stop Construction Completion for PDA-00028 itEAGLE COUNTY Julie Pranger <julie.pranger@eaglecounty.us> 33038 Confluence at Village Center - Bus Stop Construction Completion for PDA- 00028 Quint Nichol <gnichol@sopriseng.com> To: Julie Pranger <julie.pranger@eaglecounty.us> Cc: Chad Cusworth <cusworth@fortiuscap.com>, Yancy Nichol <ynichol@sopriseng.com> Julie I apologize, I did not have the actual letter attached. Quint Nichol Sopris Engineering Office 970-704-0311 Cell970-930-5340 Fri, Feb 14, 2025 at 2:56 PM From: Quint Nichol Sent: Friday, February 14, 2025 2:33 PM To: Julie Pranger <julie.pranger@eaglecounty.us> Cc: Chad Cusworth <ccusworth@fortiuscap.com>; Yancy Nichol <ynichol@sopriseng.com> Subject: 33038 Confluence at Village Center - Bus Stop Construction Completion for PDA-00028 [Quoted text hidden] SE-33038-Bus Stop Construction Completion - 244-25.pdf 920K https://mail.google.comtmaiVu/0/7ik=4adff3f3bl &vier-pt&search=all&permmsgid=msg4:1824071677606965587&simpl=m sg-f:1824071577606965587 1 /1 Docusign Envelope ID: 97374573-A168-488D-87AB-FEI9FAF51156 .,.._,,,,,,_,,,,.,a„ ,,,,,,,,,,,,;onfluence at Village Center- Bus Stop Construction Completion for PDA-00028 to EAGLE COUNTY Julie Pranger <julie.pranger@eaglecounty.us> 33038 Confluence at Village Center - Bus Stop Construction Completion for PDA- 00028 Julie Pranger <julie.pranger@eaglecounty.us> Tue, Feb 18, 2025 at 9:32 AM To: Quint Nichol <gnichol@sopriseng.com> Cc: Chad Cusworth <ccusworth@fortiuscap.com>, Yancy Nichol <ynichol@sopdseng.com> Thank you, Quint. I will take a look through and let you know if I have any questions. Best, (Quoted text hidden] https://mail.google.comtmaiVu/0/7ik=4adff3f3bl &% iev --pt&search=all&permmsgid=msg-a:r7496217421497227645&simpl=msg-a:r7496217421497227... 1 /1 Docusign Envelope ID: 97374573-A168-488D-87AB-FE19FAF51156 �..._,,,,,_,....,a„- .7onfluence at Village Center- Bus Stop Construction Completion for PDA-00028 CEAGLE COUNTY Julie Pranger <julie.pranger@eaglecounty.us> 33038 Confluence at Village Center - Bus Stop Construction Completion for PDA- 00028 Chad Cusworth <ccusworth@fortiuscap.com> Tue, Feb 18, 2025 at 9:51 AM To: Julie Pranger <julie.pranger@eaglecounty.us> Hi Julie, Attached is a consolidated file of all documents if this helps. Just thought I'd provide this. Once you review everything please let us know of any questions or concerns and then if everything looks good, please keep me updated on the process and timing for updating the letter of credit amount and I can have Levi assist with that where needed. Thanks for your help with the SIA project. We are getting ready to mobilize over the next two weeks to get started on Phase 1 Infrastructure for the overall project just FYI. CHAD CUSWORTH I VP OF CONSTRUCTION Direct: 970 33157o8 I Email: ccusworth@fortiuscap.com fortiuscap.com FFORTIUS CAPITAL [Quoted text hidden] .® Confluence SIA Bus Stop Final Approval Docments for county Combined.pdf 2999K https:/lmail.google.wnilmaiVu/0/7ik=4adff3f3bl &viev --pt&search=all&permmsgid=msg-f.,1824414793376977137&simpl=msg-f,.1824414793376977137 1/1 Docusign Envelope ID: 97374573-A168-488D-87AB-FEI9FAF51156 v�.......,a,,. ,.,e„-,.,...,,. ,;onfluenoe al Village Center - Bus Stop Construction Completion for PDA-00028 CEAGLE COUNTY Julie Pranger <julie.pranger@eaglecounty.us> 33038 Confluence at Village Center - Bus Stop Construction Completion for PDA- 00028 Julie Pranger <ju!ie.pranger@eaglecounty.us> To: Chad Cusworth <cusworth@fortiuscap.com> Tue, Feb 18, 2025 at 9:56 AM Thank you! I'll put some time on my calendar to review and get started on the SIA release and starting the warranty period. Best, [Quoted text hidden] F O n L I r S image001.png CAPITAL3K htips:llmail.google.comlmaillul0l?ik=4adfr3f3bl&view=pt&search=all&permmsgid=msg-a:r-6224783239330484026&simpl=msg-a:r-622478323933D48... 1l1 Docusign Envelope ID: 97374573-A168-488D-87AB-FEI9FAF51156 ,.., ,., ......;onfluence at Village Center - Bus Stop Construction Completion for PDA-00028 to EAGLE COUNTY Julie Pranger <julie.pranger@eaglecounty.us> 33038 Confluence at Village Center - Bus Stop Construction Completion for PDA- 00028 Julie Pranger <julie.pranger@eaglecounty.us> Thu, Feb 20, 2025 at 10:52 AM To: Quint Nichol <gnichol@sopriseng.com> Cc: Chad Cusworth <ccusworth@fortiuscap.com>, Yancy Nichol <ynichol@sopriseng.com> All, I will swing by the project site tomorrow morning to verify improvements were completed. I believe I can have the collateral reduction request to the attomey's office for review early next week. The letter from Quint requests waiving the revegetation requirement and releasing the reseeding collateral. I cannot waive this requirement. This will be a partial reduction and the warranty period cannot start until the seeding is completed in the spring. Thanks, [Quoted text hidden] Julie Pranger, PE, CFM she I her I hers Senior Staff Engineer Eagle County Engineering Department (970) 328-3563 i julie.pranger@eaglecounty.us www.eaglecounty.us Eagle County is located on the lands of the Ute people. https:ltmail.google.com/mail/u/0/?ik=4adff3f3bl &vievr--pt&search=all&permmsgid=msg-a:r-2010160650530950152&simpl=msg-a:r-201016065053095... 1/1 Docusign Envelope ID: 97374573-A168-488D-87AB-FEI9FAF51156 ....u.ny �......... -,,.,.,.,., .;onfuence at Village Center -Bus Stop Construction Completion for PDA-00028 to EAGLE COUNTY Julie Pranger <julie.pranger@eaglecounty.us> 33038 Confluence at Village Center - Bus Stop Construction Completion for PDA- 00028 Chad Cusworth <ccusworth@fortiuscap.com> Thu, Feb 20, 2025 at 11:07 AM To: Julie Pranger <julie.pranger@eaglecounty.us>, Quint Nichol <gnichol@sopriseng.com> Cc: Yancy Nichol <ynichol@sopriseng.com> Julie, One question, because the irrigation for the area around the roundabout is going to be tied into the overall Confluence project's irrigation system as a whole, we were not planning on installing irrigation in this area until we installed everything on Lot 2 therefore we weren't planning on seeding/landscaping this area until that time as well. At the earliest, this would be in the Fall when we were completing Lot 2. Is there any way of starting the warranty period on everything except the landscaping now and then the landscaping warranty would start once we were able to install irrigation and landscaping at a later date? Please let me know your thoughts. CHAD CUSWORTH I VP OF CONSTRUCTION Direct: 970 33157o8 I Email: ccusworth@fortiuscap.com fortiuscap.com FFORTIUS CAPITAL From: Julie Pranger <julie.pranger@eaglecounty.us> Sent: Thursday, February 20, 2025 10:53 AM To: Quint Nichol <gnichol@sopriseng.com> [Quoted text hidden] [Quoted text hidden] https:Umail.google.comlmaiVu/0I?ik=4adff3f3bl&viev --pt&search=all&permmsgid=msg-f.1824600764079296993&simpl=msg-f.,1824600764079296993 1/1 Docusign Envelope ID: 97374573-A168-488D-87AB-FEI9FAF51156 ,., L.,..,,,.,,,,,r ,,,,.e,,,,,,o,,, ,.,a„-,,.,,,.,� Oonfluence at Village Center- Bus Stop Construction Completion for PDA-00028 to EAGLE COUNTY Julie Pranger<julie.pranger@eaglecounty.us> 33038 Confluence at Village Center - Bus Stop Construction Completion for PDA- 00028 Julie Pranger <julie.pranger@eaglecounty.us> Thu, Feb 20, 2025 at 11:51 AM To: Chad Cusworth <ccusworth@fortiuscap.com> Cc: Quint Nichol <cinichol@sopriseng.com>, Yancy Nichol <ynichol@sopriseng.com> We can only start the warranty period once all work is complete. We can amend the SIA to extend the construction complete date if needed. I can still release the $128.629.04 associated with the completed work. [Quoted teM hidden] https://mail.google.com/mail/u/0/?ik=4adff3f3b 1 &view=pt&search=all&permmsgid=msg-a:r5641965974780724286&simpl=msg-a:r5641965974780724... 1 /1 Docusign Envelope ID: 97374573-A168-488D-87AB-FEI9FAF51156 Engineers Cost Estimate (2024 Construction Season) CONFLUENCE AT VILLAGE CENTER - BUS STOP - PUBLIC IMPROVEMENT # 33038 ITEM NO. DESCRIPTION OF WORK 1 MOBILIZATION: Not to exceed 15% 2 EXISTING BUS SHELTER CONCRETE PAD DEMO: Including breaking of concrete and removal from site, per Lump Sum. 3 CLEARING AND GRUB: Stripping of all organic material. Complete and in place, per Lump Sum. 4 'TRAFFIC CONTROL: Furnish all traffic control devises and triffic control personnel as needed to complete job. Complete and in place, per Lump Sum. 5 Grading and Excavation: Grading and Excavation of all Curb and Gutter, Asphalt, Sidewalk, and miscellaneous grading, including scarification and re -compaction. Complete and in place, per Lump Sum. 6 18" WIDE X 6" VERTICAL CURB & Gutter: Furnished and installed, 4500 psi concrete. Complete and in place, per lineal foot. 7 4" THICK SIDEWALK: Furnished and installed, 4500 psi concrete. Complete and in place, per square foot. 8 6" THICK ASPHALTIC PAVEMENT: Furnished and installed, Complete and in place, per ton. 9 CLASS 6 AGGRAGATE BASE COURSE: Furnished and installed, Min. 4" below sidewalk, Min. 6" below Curb & Gutter, Min. 6" below Asphaltic Pavement. Complete and In place, per cubic yard. 10 HAND -I -CAP RAMP: Furnish and installed, per each. 11 CROSS WALK PAINT: Furnish and installed, per each (cross walk). 12 BUS SHELTER: Furnish and installed concrete pad, relocate existing bus shelter in place, per Lump Sum. 13 SEEDING OF LANDSCAPE AREAS WITH DRY NATIVE MOUNTAIN MIX: Furnish and installed, including seed mix, tackifier and mulch, per square foot. 14 STORM DRAIN INLET PROTECTION: Furnish and installed, per each. 15 SILT FENCE:Furnish and installed, per Lineal Foot. R o -_ 9.13.24 ESTIMATED UNIT QUANTITY JOB LS JOB LS JOB LS JOB LS JOB LF SF LS 9-13-2024 UNIT PRICE I TOTAL PRICE > 18,220.00 $ 18,220.00 $ 1,500.00 $ 1,500.00 $ 1,550.00 $ 1,550.00 $ 5,500.00 $ 5,500.00 $ 11,000.00 $ 11,000.00 194 $ 65.09 $ 12,627.46 2548 $ 18.42 $ 46,934.16 TONS 110 $ 220.00 $ 24,200.00 CY 65 $ 80.00 $ 5,200.00 EACH 4 $ 200.00 $ 800.00 EACH 2 $ 650.00 $ 1,300.00 JOB LS $ 5,000.00 $ 5,000.00 SF 1877 $ 2.00 $ 3,754.00 EACH 1 $ 300.00 $ 300.00 LF 722 $ 2.50 $ 1,805.00 Subtotal Construction Costs $ 139,690.62 5%ContinRencv $ 6,984.53 Total $ 146,675.15 1 NOTE: This opinion of probable con' t - n I s prepared for budgeting purposes only. Sopris Engineering, LLC cannot be held responsible for variances from t is estimate as actuarial costs may vary due to bid and market Fluctuations. Docusign Envelope ID: 97374573-Al68-488D-87AB-FEI9FAF51156 2 3 4 5 6 7 9 10 12 13 14 15 EXHIBIT D Existing Bus Shelter Concrete Pad Demo LS LS $1.500.00 1 $1,500.00 Clearing and Grub LS LS $1,550.00 $1,550.00 Traffic Control LS LS $5.500.00 , $5,500.00 Grading and Excavation LS LS $11.000.00 $11,000.00 18" Wide x 6" vertical Curb and Gutter LF 194 $65.09 $12.627.46 4" Thick Sidewalk SF 2,548 $18.42 $46,934.16 6 ABC EACCY 7$80.00 I -Cap Ramp H 4 $200.00 Walk Paint EACH 2 $650.00 ding SF 1,877 $2.00 $3,754.0( m Drain Inlet Protection EACH i $300.00 $300.00 Fence LF 722 1 $2.50 1 $1.805.0( Summary of Two Rivers Village Phase IV Collateral Release Total Public Improvement Collateral $146,675.15 10% of Collateral that must be held for 2 years $14,667.52 1 st Collateral Release Request 3/20/2025) $128,629.04 Total Remaining Collateral after 1st Collateral Request $18,046.11 5% C Total SECURITY REDUCTION REQUESTNI QUANTITY PERCENT COMPLETE TOTAL 1 100% $18.220.00 1 100% $1,500.00 1 100% $1,550.00 1 100% $5,500.00 1 100% $11.000.00 194 100% $12,627.46 2548 100% $46,934.16 110 100% $24,200.00 65 100% $5,200.00 4 100% $800.00 2 100% $1,300.00 1 100% $5.000.00 0 0% $0.00 1 100% $300.00 722 100% $1.805.00 5%CONTINGENCY $6,984.53 AMOUNT TO BE RELEASED $142,921.15 10%HELD BY COUNTY $14.292.12 TOTALRELEASE $128.629.04