HomeMy Public PortalAboutResolution 2023-09-06 Approving Final Reduction in Surety Persuant to First Amendment to Improvement Agreement for Grand Park Drive ConnectorTOWN OF FRASER
RESOLUTION NO. 2023-09-06
A RESOLUTION APPROVING FINAL REDUCTION IN THE SURETY PURSUANT TO THE
FIRST AMENDMENT TO IMPROVEMENT AGREEMENT (IMPROVEMENT AGREEMENT)
FOR GRAND PARK DRIVE CONNECTOR
WHEREAS, Cornerstone Winter Park Holdings, LLC and the Town of Fraser entered
into an IMPROVEMENT AGREEMENT, Reception #2022000990, to ensure completion of
certain "punch list" items and which IMPROVEMENT AGREEMENT 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 0% in accordance with the IMPROVEMENT
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 Grand Park Drive Connector IMPROVEMENT
AGREEMENT from $200,650.00 to $0.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 20th DAY OF SEPTEMBER 2023.
Votes in favor: BOARD OF TRUSTEES OF THE
Votes opposed: TOWN OF FRASER, COLORADO
Abstained:
BY: \
Mayor
ATTEST:
Town Clerk