HomeMy Public PortalAboutResolution 2023-03-02 Approving a Partial Reduction in the Surety Pursuant to the SIA Elk Creek Condiminiums Grand Park - Lot 3 TOWN OF FRASER
RESOLUTION NO. 2023-03-02
A RESOLUTION APPROVING A PARTIAL REDUCTION IN THE SURETY PURSUANT TO
THE SUBDIVISION IMPROVEMENT AGREEMENT (SIA) FOR THE ELK CREEK
CONDOMINIUMS AT GRAND PARK - LOT 3
WHEREAS, Grand Park Development, LLC and the Town of Fraser entered into a SIA,
Reception #2021002313, to ensure completion of certain infrastructure and which SIA provides
for reductions in surety requirements; and
WHEREAS, Preliminary Acceptance was granted on February 23, 2023 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
$150,798 to $30,159.60.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 1 DAY OF MARCH 2023.
Votes in favor: 7 BOARD OF TRUSTEES OF THE
Votes opposed: 0 '0WN- FRASE COLORADO
Abstained:
BY:
May
04
OF FR9,s�� ATTEST:
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SEALS
Town Clerk
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