HomeMy Public PortalAboutResolution 2023-08-03 Approving Partial Reduction in Surety Pursuant to SIA for Elk Creek Condos at Grand Park Lot 6 & 7TOWN OF FRASER
RESOLUTION NO. 2023-08-03
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 6 & 7
WHEREAS, Grand Park Development, LLC and the Town of Fraser entered into a SIA,
Reception #2022002240, 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 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 partial reduction in the surety
required under the terms of Elk Creek Condominiums at Grand Park — Lot 6 & 7 SIA
from $220,028 to $95,313.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 16th DAY OF AUGUST 2023.
Votes in favor:
Votes opposed: 0
Abstained:
BOARD OF TRUSTEES OF T
FRASE:. COLO
BY:
May
ATTEST:
Utj"C`f-1.,(Aki\AC
Town Clerk