HomeMy Public PortalAboutRES-CC-2011-04Resolution #04-2011
A RESOLUTION ACCEPTING THE PUBLIC IMPROVEMENTS CONSTRUCTED IN ASSOCIATION
WITH PHASE ONE OF THE SUBDIVISION KNOWN AS "THE HACIENDAS SUBDIVISION", AND
AUTHORIZING THE RELEASE OF THE PERFORMANCE GUARANTY ASSOCIATED WITH SAID
IMPROVEMENTS.
WHEREAS, the City of Moab (the "City") and Jared Rasmussen and Thomas Todd ("Owners") entered into a
Subdivision Improvements Agreement dated January 8, 2008 (the "Agreement") covering the public
improvements associated with the above named subdivision; and
WHEREAS, Owners posted collateral in the form of cash held in escrow by Zions Bank located at 330 South
Main Street, Moab, Utah 84532, for the benefit of the City and a Deed of Trust on real property naming the City
as beneficiary to guarantee the improvements required by the Agreement; and
WHEREAS, the Developer failed or refused to construct or complete all of the improvements specified in the
SIA and development approvals, constituting a default under the SIA and the conditions of approval, and failed to
cure same after delivery of written notice; and
WHEREAS, Resolution #06-2010, approved by the City Council on February 23, 2010, declared the developer to
be in default of the Subdivision Improvements Agreement; and
WHEREAS, adoption of Ordinance #2010-08, by Council on March 23, 2010, effectively vacated a portion of
Phase One; and
WHEREAS, the City acted as project manager and general contractor to finish the agreed upon improvements
within the remaining portion of Phase One; and
WHEREAS, Council, by approval of Resolution #06-2011 on February 8, 2011, has determined that the
improvements are completed in accordance with the engineered plans and construction specification for the City
of Moab; and
WHEREAS, pursuant to the terms of the Agreement, Owners are entitled to a full release of the unused portion
of the performance guaranty.
NOW THEREFORE, we, the Governing Body of the City of Moab do hereby resolve to accept the public
improvements covered by the Agreement referenced herein, specifically street improvements, water system
improvements, sewer system improvements, and storm drainage improvements located within the subdivision and
do hereby authorize the full release of Owners' collateral.
Passed and adopted by action of the Governing Body of the City of Moab in open session this 8th day of
February, 2011.
SIGNED:
David L. Sakrison, Mayor
ATTEST:
Rachel Ellison, Recorder p:\planning department\2011\cc resolutions \haciendas acceptance of improvements.docx