HomeMy Public PortalAboutResolution 2020-02-01 Partial Surety Reducion SIA for Redezvous EMF11 TOWN OF FRASER
RESOLUTION NO. 2020-02-01
A RESOLUTION APPROVING A PARTIAL REDUCTION IN THE SURETY PURSUANT TO
THE SUBDIVISION IMPROVEMENT AGREEMENT (SIA) FOR RENDEZVOUS EMF11.
WHEREAS, Rendezvous and the Town of Fraser entered into a SIA, Reception #
2019003498, to ensure completion of certain infrastructure and which SIA provides for
reductions in surety requirements, and
WHEREAS, Rendezvous has requested a reduction in surety because these
improvements are substantially complete and Town Staff has reviewed the request and has
determined it to be in conformance with the provisions of said agreement.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN OF
FRASER, COLORADO THAT:
1. The Town Board of Fraser, Colorado hereby authorizes a reduction in the surety required
under the terms of the SIA from $920,049.00 to $368,020.00 releasing $552,029.00 to
Rendezvous Colorado, LLC. LLC.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 5th DAY OF FEBRUARY, 2020.
Votes in favor:
Votes opposed: 0
Abstained: 0_
BOARD TRUSTEES OF THE
TOWN OF FRASER, COLORADO
BY:
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Mayor
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