HomeMy Public PortalAboutResolution 2012-07-01 Approving a Partial Release in the Surety Requirement Pursuant to the Subdivision Improvement Agreement for the Village at Grand Park - Filing 2, Lot 12A and Tract DA RESOLUTION APPROVING A PARTIAL RELEASE IN THE SURETY REQUIREMENT
PURSUANT TO THE SUBDIVISION IMPROVEMENT AGREEMENT FOR THE VILLAGE AT
GRAND PARK FILING 2, LOT 12A and TRACT D.
WHEREAS, Grand Park Development LLC and the Town of Fraser entered into a
Subdivision Improvement Agreement (SIA) on August 8, 2011, Reception# 2011005630 to
ensure completion of certain infrastructure and site improvements and which SIA provides for
reductions in surety requirements; and
WHEREAS, Grand Park Development LLC has requested a partial release in surety and
Town staff has inspected all improvements and has certified to the Board of Trustees that all
such required improvements have been substantially constructed or installed in accordance with
the Fraser Subdivision Regulations and 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 release in the surety
required under the terms of the SIA. The cash surety shall be reduced to 20% of the
original performance guarantee ($52,296.00) or $10,459.20.
READ, PASSED, AND ADOPTED BY THE BOARD OF TRUSTEES THIS 18th DAY OF JULY,
2012.
Votes in favor:
Votes opposed:
Absent:
Abstained:
TOWN OF FRASER
RESOLUTION NO. 2012-07-01
BOARD TR
TOWN OF
BY:
Mayor
ATTEST:
ES O
X
Town Clerk