HomeMy WebLinkAboutR94-151 fourth partial release of collateral for Blue Lake Filing VCommissioner moved adoption
of the following (/Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 94-
FOURTH PARTIAL RELEASE of COLLATERAL
BLUE LAKE SUBDIVISION
Filing V
WHEREAS, pursuant to C.R.S. 30 -28 -137, the Board of County
Commissioners of the County of Eagle, State of Colorado ( "Board ")
entered into a Subdivision Improvements Agreement dated March 14,
1994 ( "Agreement ") with Vantex Enterprises Inc., ("Subdivider"), as
a condition of final plat approval for Filing 5, Blue Lake
Subdivision; and
WHEREAS, the Subdivider provided collateral in the form of
deposit in an Escrow Account pursuant to an Escrow Agreement to
guarantee the faithful completion of the public improvements in the
project; and
WHEREAS, Paragraph 2.2 of the Agreement allows the Subdivider
to apply for partial releases of collateral, all as described
therein; and
WHEREAS, by Resolution Number 94 -91 the Board approved a
reduction in collateral in the amount of $376,137.45 leaving a
balance of $1,140,981.05 which was collateralized under the Escrow
Agreement; and
WHEREAS, by Resolution Number 94 -114 the Board approved a
second reduction in collateral in the amount of $191,848.50,
leaving a balance of $949,132.55 in the Escrow Account; and
WHEREAS, by Resolution Number 94 -126 the Board approved a
third reduction in collateral in the amount of $57,901.95, leaving
a balance of $891,230.60 in the Escrow Account; and
WHEREAS, Subdivider has represented to the Board, and members
of the County staff have corroborated the Subdivider's
representations, that further improvements required under the
Agreement appear to have been partially completed in a satisfactory
manner (Exhibit A); and
WHEREAS, the Subdivider has requested a fourth reduction in
the collateral in the amount of $186,922.80 which will leave a
balance of $704,307.80 in the Escrow Account:
Original SIA
$1,517,118.50
First Partial Release
$
376,137.45
Second Partial Release
$
191,848.50
Third Partial Release
$
57,901.95
Fourth Partial
$
186,922.80
Remaining Collateralized Improvements
$
704,307.80
Based upon the oral and written recommendations of the
Department of Engineering, THE BOARD FINDS that the Subdivider's
obligations under the Agreement appear to have been partially
satisfied, and a further reduction in the collateral held by the
Board is warranted.
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 partial release of
collateral in the amount of $186,922.80 for a remaining collateral
balance of $704,307.80 which represents the balance of the public
improvements to be completed in Blue Lakes Filing V.
THAT, the partial release of collateral granted hereby shall
not in any way abrogate the rights of the Board in enforcing the
Subdivider's performance of his outstanding obligations under the
Agreement.
THAT, the remaining balance of $704,307.80 which remains in
the Escrow Account is currently sufficient to provide the
collateral which will be required upon commencement of the warranty
period as defined in Paragraph 2.3 of the Agreement.
THAT, this partial release of collateral in no way signifies
the commencement of any warranty period; the warranty period shall
begin on the date all work is complete and accepted by the County,
pursuant to Paragraph 2.3 of the Agreement.
THAT, all other provisions of the Agreement shall remain in
full force and effect.
MOVED, READ AND ADOPTED by the Board
of the County of Eagle, State of Colorado
October, 1994.
ATTEST
a�
of County Commissioners
this llgl.4-- day of
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By. � .
h i lips, hairman
Commissioner (Cal�:9 seconded adoption of the
foregoing resolution. The roll having been called, the vote was as
follows:
Commissioner Johnnette Phillips
Commissioner James E. Johnson, Jr.
Commissioner George A. Gates
This Resolution passed by vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
r \blueV4.par
-3-
sub # 84 -33
County Commissioners
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Maureen Amundson, Attorney's Office
FROM:
John Althoff,
Engineering
DATE:
September 26,
1994
V
RE: Blue Lake Filing #5
Fourth Partial Release of Collateral
I received a request for a partial release of collateral from
E.J. Chupik, dated September 14, 1994. I have reviewed the request, and
all appears to be in line. I have also reviewed test results on
compaction and concrete from Hepworth - Pawlak Geotechnical, and visited
the site on Thursday, September 22, 1994.
Suggest a reduction in collateral of $186,922.80 which will leave a
collateral balance of $704,307.80, per the attached Collateral Release
Summary.
&.Ao CSdu e
_
COLLATERAL RELEASE SUMMARY
SIA: Blue Lake Filing #5
Fourth Partial Release
DATE: September, 1994
ORIGINAL
AMOUNT
COLLATERALIZED
SITE WORK
AMOUNT OF
IMPROVEMENTS
COMPLETED
Site Grading & Subgrade Preparation
$
80,000.00
$
80,000.00
Landscaping, Trees, Vegetation,
Irrigation
$
39,000.00
$
-0-
TOTAL SITE WORK
$
119,000.00
$
80,000.00
STREETS & DRAINAGE
Class 2 (Pit Run)
$
52,000.00
$
52,000.00
Class 6 ABC
$
38,500.00
$
38,500.00
2 Asphalt
$
113,424.00
$
-0-
2 Asphalt Ped /Bike Path
$
13,051.50
$
-0-
Concrete Curb & Gutter
$
100,320.00
$
98,790.50
Concrete Sidewalk
$
95,040.00
$
76,032.00
Concrete Cross Pan
$
16,470.00
$
16,470.00
Sidewalk Ramps
$
400.00
$
. 400.00
Curb Openings
$
4,250.00
$
4,250.00
18 CMP w /Flared Ends
$
1,824.00
$
-0-
24" CMP w /Flared Ends
$
5,566.00
$
2,780.00
64 1 lx43" ACMP Culvert w /Bed
$
12,000.00
$
12,000.00
Concrete Culvert Headwalls
$
8,000.00
$
8,000.00
Riprap w /Bedding Material
$
7,250.00
$
-0-
Street Signs
$
1,050.00
$
-0-
36" Dia. RCP Blue Creek Conduit
(Class 3)
$
32,500.00
$
32,120.00
48 1 lx36" Dia. RCP Transition
Conduit (Class 3)
$
400.00
$
400.00
36" Inlet Structure w /Trash Rack
$
800.00
$
800.00
5' Dia. Manhole w /Lid
$
3,400.00
$
3,400.00
12" SDR 26 PVC Pipe (Ditch Siphon)
$
3,200.00
$
-0-
71 "x47" CMPA Culvert
$
4,000.00
$
4,000.00
12" Flume (Parshall)
$
900.00
$
-0-
TOTAL STREETS & DRAINAGE
$
514,345.50
$
349,942.50
WATERLINE
8 DIP Class 52 w /Polywrap
$
88,060.00
$
88,060.00
8 Gate Valve
$
9,450.00
$
9,450.00
Fire Hydrant w /6" lateral, valve,
and tee
$
23,400.00
$
23,400.00
Tees
$
800.00
$
800.00
3/4" Water Service w /Stops & Box
$
54,000.00
$
54,000.00
Sleeve Interconnection
$
1,000.00
$
1,000.00
TOTAL WATERLINE
$
176,710.00
$
176,710.00
Blue Lake Filing #5
Fourth Partial Release
Page 2
SEWERLINE
4' Dia. Manholes w /Lids
8 SDR35 PVC Sewer Pipe
4 SDR26 PVC CL160 Pipe
Concrete Encasement
4 PVC Service w /Wyes
Sanitary Sewer Lift Sta.
TOTAL SEWERLINE
UTILITIES
4' Deep Trench
3' Deep Trench
Transformer Vault
Gas
Electric
Street Lights
TOTAL, UTILITIES
IRRIGATION DITCH IMPROVEMENTS
24" Ultraflo Pipe w /Gasket Joints
4' Dia. Manhole w /Lid
90" Dia. Manhole w /Lid & Headgates
24" Flared End Section w /Trash Rack
Diversion Structure (concrete)
w /headgates and flume
24" CMP
8 DIP Drain Line
8" Gate Valve (Drain Line
Riprap
TOTAL IRRIGATION DITCH
Site Grading
2 Asphalt Paving
2 Asphalt Ped /Bike Path
Class 6 ABC
Beach Sand
Restroom Facility
Sanitary Sewer Service
Water Services
Pavilion Structure & Pad
Shelters & Docks
Game /Playground Area
Furnishings, Tables, Benches,
BBQ's, Trash Receptacles
Site Lights
Landscaping, Trees, Vegetation,
Irrigation
TOTAL PARK AREA
ORIGINAL AMOUNT OF
AMOUNT IMPROVEMENTS
COLLATERALIZED COMPLETED
$ 45,900.00
$
45,900.00
$ 59,778.00
$
59,778.00
$ 9,000.00
$
-0-
$ 2,750.00
$
2,750.00
$ 54,000.00
$
54,000.00
$ 21,000.00
$
-0-
$ 192,428.00
$
162,428.00
$ 16,050.00
$
16,050.00
$ 24,800.00
$
24,800.00
$ 2,200.00
$
2,200.00
$ 17,500.00
$
-0-
$ 120,400.00
$
-0-
$ 4,000.00
$
-0-
$ 184,950.00
$
43,050.00
$ 90,000.00
$
64,800.00
$ 10,200.00
$
10,200.00
$ 4,500.00
$
4,500.00
$ 450.00
$
450.00
$ 5,000.00
$
5,000.00
$ 3,740.00
$
2,972.50
$ 2,880.00
$
2,520.00
$ 550.00
$
550.00
$ 1,250.00
$
-0-
$ 118,570.00
$
90,992.50
$ 15,000.00
$
-0-
$ 11,110.00
$
-0-
$ 4,895.00
$
-0-
$ 6,160.00
$
-0-
$ 5,000.00
$
-0-
$ 22,000.00
$
-0-
$ 900.00
$
-0-
$ 1,050.00
$
-0-
$ 30,000.00
$
-0-
$ 25,000.00
$
-0-
$ 10,000.00
$
-0-
$ 8,000.00
$ 12,000.00
$ -0-
$ -0-
$ 60,000.00
$ 211,115.00
$ -0-
$ -0-
Blue Lake Filing #5
Fourth Partial Release
Page 3
ORIGINAL
AMOUNT
COLLATERALIZED
TOTAL BLUE LAKE FILING #5
$1,517,118.50
IMPROVEMENTS COMPLETED:
$
903,123.00
loo RETAINAGE
$
90,312.30
$
812,810.70
FIRST PARTIAL RELEASE:
$
376,137.45
SECOND PARTIAL RELEASE:
$
191,848.50
THIRD PARTIAL RELEASE:
$
57,901.95
THIS RELEASE
$
186,922.80
ORIGINAL SIA:
$1,517,118.50
FIRST RELEASE:
$
376,137.45
SECOND RELEASE:
$
191,848.50
THIRD RELEASE:
$
57,901.95
THIS RELEASE:
$
186,922.80
REVISED SIA:
$
704,307.80
AMOUNT OF
IMPROVEMENTS
COMPLETED
$ 903,123.00