HomeMy Public PortalAboutResolution 2016-09-02 Approving a Partial Reduction in the Surety Pursuant to the Subdivision Improvement Agreement (SIA) for the Willows at Grand Park Filing No. 1TOWN OF FRASER
RESOLUTION NO. 2016-09-02
A RESOLUTION APPROVING A PARTIAL REDUCTION IN THE SURETY PURSUANT TO
THE SUBDIVISION IMPROVEMENT AGREEMENT (SIA) FOR THE WILLOWS AT GRAND
PARK FILING NO. 1.
WHEREAS, Grand Park and the Town of Fraser entered into a SIA, Reception #
2015004933, to ensure completion of certain infrastructure and which SIA provides for
reductions in surety requirements, and
WHEREAS, Grand Park has requested a reduction in surety because these
improvements are substantially complete and the Town Staff and Engineer have reviewed the
request and have determined it 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 reduction in the surety required
under the terms of the SIA from $146,787.00, to $45,542.00 releasing $101,245.00 to
Grand Park Development LLC.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 7th DAY OF SEPTEMBER, 2016.
Votes in favor: 7
Votes opposed:
Absent:
Abstained:
BOARD TRUSTEES OF THE
TOWN OF FRASER, COLORADO
BY:
N OF F
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1
Mayo
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ATTEST:
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Town Clerk