HomeMy Public PortalAboutResolution 2023-09-05 Partial Reduction in Surety Per SIA for Elk Creek Condos at Grand Park Lot 6 & 7TOWN OF FRASER
RESOLUTION NO. 2023-09-05
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, Preliminary Acceptance was granted on September 18, 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 6 & 7 SIA
from $95,313 to $44,005.60.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 20th DAY OF SEPTEMBER 2023.
Votes in favor:
Votes opposed:
Abstained:
O
0 -
BOARD OF TRUSTEES OF 1-1I
TOWN OF FRASER, COL RA O
BY: ,y
Mayor
ATTEST:
Town Clerk