HomeMy Public PortalAboutResolution 2022-02-02 Approving Partial Surety Reduction Pursuant to SIA for Byers Peak Ranch Filing 2, Parcel 2, The Mill ApartmentsTOWN OF FRASER
RESOLUTION NO. 2022-02-02
A RESOLUTION APPROVING A PARTIAL REDUCTION IN THE SURETY PURSUANT TO
THE SUBDIVISION IMPROVEMENT AGREEMENT (SIA) FOR BYERS PEAK RANCH FILING
2, PARCEL 2, THE MILL APARTMENTS.
WHEREAS, Byers Peak Properties, LLC and the Town of Fraser entered into a SIA,
Reception # 2020010292, to ensure completion of certain infrastructure and which SIA provides
for reductions in surety requirements, and
WHEREAS, Byers Peak Properties, LLC has requested a reduction in surety because
these improvements are substantially complete and the Town Staff have reviewed the request
and have made appropriate changes and finds this recommended surety release 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 $500,000 to $339,205.06, releasing $160,794.94 to
Byers Peak Properties, LLC.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS =-' DAY OF , 2022.
Votes in favor: °7
Votes opposed:
Absent:
Abstained:
BOARD TRUSTEES OF THE
TOWN OF FRASER, COLORADO
ATTEST:
kt, \CW 0•4
Town Clerk