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HomeMy WebLinkAboutR07-118 Wolf Parking Lot Final ReleaseCommissioner ~ ~ti~t- 1. -~~ moved adoption of the following; esolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION N0.2007- ~~ FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR WOLF PARKING LOT GRADING PERMIT VAIL RESORTS FILE NO. MI-11950 WHEREAS, the Board of County Commissioners of Eagle County, Colorado ("Board") entered into a Public Improvements Agreement ("Agreement") with The Vail Corporation ("Subdivider") for the Wolf Parking Lot Grading Permit; and WHEREAS, both the Subdivider and the Engineering Department state that the work required under the Public Improvements Agreement has satisfactorily passed the two-year warranty period and the Engineering Department recommends full release of the collateral (see "Exhibit A"). Based upon the written recommendations of the County staff, THE BOARD FINDS that the Subdivider's obligations under the Agreement have been satisfied; and ended. WHEREAS, the warranty period required by the Public Improvements Agreement has 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 Wolf Parking Lot Grading Permit Vail Resorts File No. MI-11950. 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 Wolf Parking Lot Grading Permit has been successfully completed and that the Subdivider's obligations under the Agreement are complete. THAT, Letter of Credit No. SLCPPDX02458 in the amount of $126,720.73 held by the County be released. THAT, these improvements entail the construction of utility infrastructure and private roadways. County maintenance is not required for these roads. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the %~day of November, 2007. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: BOARD OF COUNTY COMMISSIONERS Clerk to the Board of Arn County Commissioners B y: Sara J. Fisher Commissio r Peter Runyon ~ Commissioner Commissioner -~/~~~w ? seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Menconi ~-~ ~ Commissioner Fisher Ct Commissioner Runyon <7 ;v' __~ I This Resolution passed by :~~ vote of the Board of County Commissioners of the County of Eagle, State of Colorado. G:U KS\resolutions\wolf. DOC MEMORANDUM EAGLE COUNTY ENGINEERING TO: Nancy Wright, Attorney's Office FROM: Mike Gruber, Engineering ~~ ~ ~~ DATE: November 6, 2007 RE: Public Improvements Agreement, Wolf Parking Lot Grading Permit, Vail Resorts, Eagle County File No. MI-11950, Release of Collateral, Termination of the Warranty Period and Public Improvements Agreement Mr. Bill Kennedy, Director of Land Development, Vail Resorts Development Company, has made a request for final inspection of the infrastructure for successful performance under the warranty period. My inspection on October 30, 2007, indicates 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: The improvements for Wolf Parking Lot Grading Permit, File No. MI-11950, as collateralized with amended Letter of Credit #SLCPPDX02458 in the amount of $126,720.73. This amount is equivalent to the 10% of the improvements cost retained until successful completion of the warranty period. These improvements entail the construction of utility infrastructure and private roadways. County maintenance is not required for these roads. # # # cc: Eva Wilson, County Engineer -email Bill Kennedy, Vail Resorts Development Company -email Chrono/File EXHIBIT N d D a~