HomeMy Public PortalAboutResolution 2022-10-02 Approving Partial Reduction of Surety Pusuant to SIA for Meadows At Grand Park Filing 1TOWN OF FRASER
RESOLUTION NO. 2022-10-02
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 #20220001845, to ensure completion of certain infrastructure and which SIA provides
for reductions in surety requirements; and
WHEREAS, Preliminary Acceptance was granted on May 18. 2022 which allows the
developer to reduce the surety to 20% in accordance with the SIA
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
$201,801 to $88,328.
2. Previous partial reduction in surety for The Meadows at Grand Park Filing No. 1 per
Resolution 2020-11-01 occurred when the surety was provided to the Town in the
amount of $201,801.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 19"' DAY OF OCTOBER 2022.
Votes in favor:
Votes opposed:
Abstained:
Absent:
O
BOARD OF TRUSTEES OF THE
TOWN OF FRASER, COLORADO
Mayor
ATTEST:
Town Clerk
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