HomeMy Public PortalAboutResolution 2019-01-03 Approving Partial Surety Reduction Per SIA Elk Creek At Grand Park Fililng 3 TOWN OF FRASER
RESOLUTION NO. 2019-01-03
A RESOLUTION APPROVING A PARTIAL REDUCTION IN THE SURETY PURSUANT TO
THE SUBDIVISION IMPROVEMENT AGREEMENT (SIA) FOR ELK CREEK AT GRAND PARK
FILING 3.
WHEREAS, Grand Park Development LLC and the Town of Fraser entered into a SIA,
Reception # 2018000117, to ensure completion of certain infrastructure and which SIA provides
for reductions in surety requirements, and
WHEREAS, Grand Park Development LLC 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 $483,572.00 to $339,327.00 releasing $144,245.00 to
Grand Park Development LLC.
READ, PASSED ON ROLL CALL VOTE, AND ADOPTED BY THE BOARD OF TRUSTEES
THIS 23th DAY OF JANUARY, 2019.
Votes in favor: e_p
Votes opposed: O
Absent:
Abstained:
BOARD TRUSTEES OF THE
TOWN OF FRASER, COLORADO
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ATTEST:
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Town Clerk
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