HomeMy WebLinkAboutR08-106 Relocation Bellyache Ridge Road Final Release of CollateralCommissioner ~~~ h-- t
of the following Resolution:
moved adoption
BOARD OF COUNTY CONIl~IISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION N0.2008- ~ O Vl
FINAL RELEASE OF COLLATERAL
AND
TERMINATION OF THE WARRANTY PERIOD
FOR
RED SKY RANCH
RELOCATION OF BELLYACHE RIDGE ROAD
FILE NO. ZS-00032
WHEREAS, on or about May 15, 2000, the Board of County Commissioners of the
County of Eagle, State of Colorado ("Board") entered into a Special Use Permit Improvements
Agreement with The Vail Corporation, a Colorado corporation ("Subdivider") as a condition of
approval of the Special Use Permit of Red Sky Ranch formerly known as Jouflas Ranch Golf
Course for the relocation of Bellyache Ridge Road; and
WHEREAS, pursuant to the Agreement, the Subdivider provided collateral in the form
of Letter of Credit No. SLCDDEN00462 to guarantee the faithful completion of the public
improvements; and
WHEREAS, by Eagle County Consent No. 2003-01 Subdivider was granted a first
partial release of collateral, reducing the amount of collateral held by the County to $71,279.80;
and
WHEREAS, the improvements were completed and by Eagle County Consent No. 2004-
06, the two-year warranty period was commenced; and
WHEREAS, Eagle County Consent No. 2007-10 authorized the extension of the
warranty period to expire August 24, 2008; and
WHEREAS, the Engineering Department states the improvements are complete, have
survived the two-year warranty period and are acceptable per the terms and conditions of the
Special Use Permit Improvements Agreement; 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, as secured by the Letter of Credit, and the termination
of the Special Use Permit Improvements Agreement, see Exhibit "A", attached hereto and
incorporated herein by this reference.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, based upon the oral and written recommendations of the County Engineer and
County Attorney, THE BOARD FINDS that the Subdivider's obligations under the Agreement
have been satisfied.
THAT, the Board hereby authorizes the full and final release of the Letter of Credit and
the termination of the Special Use Permit Improvements Agreement for Red Sky Ranch
(formerly known as Jouflas Ranch Golf Course).
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 Sky Ranch relocation of
Bellyache Ridge Road has been successfully completed and that the Subdivider's obligations
under the Agreement are complete.
THAT, these improvements entail the paving of an existing County road which has been
subject to ongoing County maintenance. No additional maintenance is being requested.
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 September,
2008.
ATTEST:
~~~
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
~3~%'~~
Peter F. Runyon
Clerk to the Board of ~°<oRr~d°
County Commissioners_ _
~-~1. ti ~ -____-_' ~ DknvT t
Commissioner `~', ~ seconded ad
option of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Runyon
Commissioner Fisher 4
Commissioner Menconi ~ y
This Resolution passed by ~ vote of the Board of County Commissioners of
the County of Eagle, State of Colorado.
nrw~resolutions~Red Sky Ranch termination
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Nancy Wright, Attorney's Office
r
FROM: Mike Gruber /Engineering ~~~~~~`
DATE: August 20, 2008
RE: Red Sky Ranch, SUPIA, Relocation of Bellyache Ridge Road, Eagle County File ZS-
00032, Release of Collateral and Termination of the Warranty Period and Special Use
Permit Improvements Agreement
Formal request for inspection for this project was submitted by Bill Kennedy/ Director of Land
Development, Vail Resorts Development Company in an email to me dated August 6, 2008.
Inspection for successful performance under the extended one year warranty period was conducted
for completion of certain repairs of portions of Bellyache Ridge Road. Remedy and corrections
have been preformed to the satisfaction of the Eagle County Departments of Engineering and Road
and Bridge.
I recommend termination of the Special Use Permit Improvements Agreement, termination of the
warranty period, and the release of the remaining collateral for the improvements as follows:
The amount of collateral presently retained, Letter of Credit #SLCDDEN00462 in the amount of
$71,280.00. This amount is equivalent to 10% of the improvements cost retained until successful
completion of the warranty period.
These improvements entail the paving of an existing County road which has been subject to
ongoing County maintenance. No additional maintenance is being requested.
###
cc: Eva Wilson, County Engineer (email)
Bill Kennedy, Vail Resorts Development Co. (email)
EXHIBIT