HomeMy Public PortalAboutResolution 2023-08-04 Approving Partial Reduction in Surety Pursuant to SIA for Elk Creek Condos at Grand Park Lot 4 & 5TOWN OF FRASER
RESOLUTION NO. 2023-08-04
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 4 & 5
WHEREAS, Grand Park Development, LLC and the Town of Fraser entered into a SIA,
Reception #2021005790, to ensure completion of certain infrastructure and which SIA provides
for reductions in surety requirements; and
WHEREAS, Preliminary Acceptance was granted on August 10, 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 Elk Creek Condominiums at Grand Park — Lot 4 & 5 SIA
from $209,848 to $41,969.60.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 16th DAY OF AUGUST 2023.
Votes in favor:
Votes opposed:
Abstained:
OF THE
COLORADO
BY:
Mayo
ATTEST:
Town Clerk