HomeMy Public PortalAboutResolution 2020-11-01 Approving a Partial Reduction in Surety The Meadows at Grand Park Filing No. 1 TOWN OF FRASER
RESOLUTION NO. 2020-11-01
A RESOLUTION APPROVING A PARTIAL REDUCTION IN THE SURETY PURSUANT TO
THE SUBDIVISION IMPROVEMENT AGREEMENT(SIA) FOR THE MEADOWS AT GRAND
PARK, FILING NO. 1.
WHEREAS, Grand Park Development LLC and the Town of Fraser entered into a SIA,
Reception#2020001845, to ensure completion of certain infrastructure and which SIA provides
for reductions in surety requirements; and
WHEREAS, Grand Park Development, LLC 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; and
WHEREAS, a previous partial reduction in surety for The Meadows at Grand Park Filing
No. 1 occurred when the surety was provided to the Town in the amount of$443,720.
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 partial reduction in the surety
required under the terms of the Meadows at Grand Park Filing No. 1 SIA from $441,639
to $201,801.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 4'" DAY OF November, 2020.
Votes in favor: -1 BOARD OF TRUSTEES OF THE
Votes opposed: d TOF RA7 COLORADO
Abstained:
Absent: 6
BY: li
Mayor
0NOFF
•° c< ATTEST:
tAL CL3r4u101(\ctk
Town Clerk
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