HomeMy WebLinkAboutR07-116 Red Canyon Final ReleaseCommissioner .'I,'~~ -`~ ,~ moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION N0.2007- ~~
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
RED CANYON ESTATES HOMEOWNERS ASSOCIATION, INC.
WHEREAS, on September 6, 2005 the Board of County Commissioners of Eagle
County, Colorado ("Board") entered into a Public Improvements Agreement ("Agreement") with
Red Canyon Estates Homeowners Association, Inc. ("Subdivider") for Road Cut Permit No. MI-
12036; and
WHEREAS, by Eagle County Consent No. 2005-15, the County commenced the
warranty period for Red Canyon Estates Homeowners Association, Inc., which warranty period
expired November 7, 2007; and
WHEREAS, both the Subdivider and the Engineering Department state that the work
required under the Agreement is complete and acceptable and the Engineering Department
recommends full release of the collateral and the termination of the Public Improvements
Agreement and termination of the warranty period, see Exhibit "A," attached hereto and
incorporated herein by this reference. Based upon the written recommendations of the County
staff, THE BOARD FINDS that the Subdivider's obligations under the Agreement have been
satisfied; and
WHEREAS, the warranty period required by the Public Improvements Agreement has
ended.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Board hereby authorizes the full and final release of collateral and the
termination of the Public Improvements Agreement for Red Canyon Estates Homeowners
Association, Inc.
THAT, this document shall be recorded in the Records of the Eagle County Clerk
and Recorder, which shall be evidence that the warranty period for Red Canyon Estates
Homeowners Association, Inc. has been successfully completed and that the Subdivider's
obligations under the Agreement are complete.
THAT, Letter of Credit No. 1165 in the amount of $22,000.02 held by the County be
released.
THAT, Eagle County does not assume responsibility for maintenance or upkeep of the
roads in Red Canyon Estates.
MOVED, READ AND ADOPTED by the Board of Count Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the ~ ~7day of November, 2007.
ATTEST:
B y:
Clerk to the Board of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
SOAR OF BOUNTY COMMISSIONERS
Chairman
BY~ ~ t,e~.._.
Sara J. Fisher
Commissio r
~~
By `
Peter Runyon
Commissioner
Commissioner "~ ~- ` -~ ~`~ ~ seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
-~,
This Resolution passed by ~( vote of the Board of County
Commissioners of the County of Eagle, State of Colorado.
Commissioner Menconi C ~-
Commissioner Fisher ~• _,~ "
Commissioner Runyon ~~. '=-ate,-----
G:UKS\resolutions\Red Canyon final release.DOC
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Nancy Wright, Eagle County Attorney's Office
FROM: Mike Gruber, Engineering Department / ~ _
1`/ ~~l ~-~~'
DATE: October 31, 2007
RE: Public Improvements Agreement, Red Canyon Road, File No. MI-12036
Authorization for the Release of Collateral, Termination of the Warranty Period and
Public Improvements Agreement
Mr. Jeff Cobb, Red Canyon Estates Homeowners Association, Inc: has made a request for final
inspection of the improvements for successful performance under the warranty period on Friday,
October 26, 2007.
Inspection was conducted by me on October 29, 2007. The improvements are complete, have
survived the two-year warranty period and are acceptable per the terms and conditions of the Public
Improvements Agreement.
I recommend termination of the Public Improvements Agreement, termination of the warranty
period, and the release of the remaining collateral for the improvements as follows:
Letter of Credit Number; 1165, Colorado Business Bank, as amended for the amount of $22,000.02.
This amount represents 10% of the collateral as established by consent number 2005-15 to be
retained throughout the warranty period.
These improvements entail the paving of an existing road which has been subject to ongoing
County winter maintenance. No additional maintenance is being requested.
# # #
pc: Eva Wilson, County Engineer (e-mail)
Jeff Cobb, Red Canyon HOA (e-mail -Jeff@majackdevelopment.com)
Chrono/File
EXHIBIT
