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RESOLUTION
RE: APPROVE PARTIAL CANCELLATION AND RELEASE OF COLLATERAL FOR SITE
PLAN REVIEW#401 -STAGECOACH PARTNERS, LLC,C/O FLOYD AND KATHARINE
OLIVER
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, on October 17, 2006, the Department of Planning Services approved a Site
Plan Review, SPR#401, for Katharine H. Oliver, LLC, c/o Floyd Oliver, 2385 Homestead Place,
Longmont, Colorado 80504, for an office building on the following described real estate, to wit:
Lot 3, Block 1, Western Dairymen Cooperative, Inc.;
being part of the NW1/4 of Section 10, Township 2
North, Range 68 West of the 6th P.M., Weld County,
Colorado, and
WHEREAS, on May 14, 2007, the Board of County Commissioners of Weld County,
Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for
Improvements (Private Road Maintenance), between the County of Weld, State of Colorado, by
and through the Board of County Commissioners of Weld County, and Stagecoach Partners, LLC,
c/o Floyd and Katharine Oliver, with terms and conditions being as stated in said agreement, and
accepted Irrevocable Letter of Credit#6022, drawn on Centennial Bank of the West, 4650 Royal
Vista Circle, Fort Collins, Colorado 80528, in the amount of$173,060.00, and
WHEREAS, staff from the Weld County Departments of Planning Services and Public
Works have conducted visual inspections and recommend release of a portion of said collateral
in the amount of$149,469.50, retaining 15 percent ($23,590.50)for a one-year warranty period,
and
WHEREAS, the Board has been presented with Amendment No. 01 to Irrevocable Letter
of Credit No. 6022 from Guaranty Bank and Trust Company, P.O. Box 5847, Denver, Colorado
80217-9522, reducing the amount of credit available for draw by Weld County to $23,590.50.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that Irrevocable Letter of Credit#6022, drawn on Centennial Bank of the West,
in the amount of $173,060.00 be, and hereby is, partially canceled and released, and that the
remaining balance of $23,590.50, be, and hereby is, accepted.
111111111111111111111111 III 111111111111 III 11111 IIII IIII
3559688 06/10/2008 12:24P Weld County, CO 2008-1453
1 of 2 R 0.00 D 0.00 Steve Moreno Clerk & Recorder PL1898
CANCEL COLLATERAL - STAGECOACH PARTNERS, LLC, C/O FLOYD AND KATHARINE
OLIVER
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 14th day of May, A.D., 2008.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: gilt f 7 1ldt's �L ,
illiam H. Jerke, Chair
Weld County Clerk to the • : • '' * = 1♦�
C�:���[ XCUSED
�• ' A� obert D. Masden, Pro-Tem
BY: .
Deputy Clerk the Bo ��
' Wil m F. Garcia
RO of • - CORM: F
David E. Long
oun y Attorney ao •u2.
Douglas Ra emacher
Date of signature: * T_`"_
TIED 11111 1111111111 III 111111111111 III
3559688 06/10/2008 12:24P Weld County, CO 2008-1453
2 of 2 R 0.00 D 0.00 Steve Moreno Clerk & Recorder PL1898
Mott;t MEMORANDUM
Volpe DATE May 9 2008 TO: Board of County
08unty Commissioners
COLORADO
FROM: Michelle Martin i:1 I
SUBJECT: SPR-401
The Department of Planning Services received a letter from the applicant dated 12/10/07
indicating the improvements have been done on the site. Three site inspections on 1/17/08,
2/15/08 and 5/9/08 by the Weld County Department of Public Works and the Planning
Department indicate all improvements have been completed.
The Department of Public Works and the Department of Planning Services is recommending
release of the collateral in the amount of $149,469.50 for the on-site improvements. The
Department of Public Works is recommending $23,590.50 be retained for collateral during the
one year warranty period.
2008-1453
• • Page 1 of 1
Michelle Martin
From: Don Dunker
Sent: Thursday, January 17, 2008 10:47 AM
To: Michelle Martin; Richard Hastings
Cc: David Bauer; Don Dunker
Subject: SPR-401 final inspection
Hi Michelle,
PW has no other issues with the project as constructed. The total amount that will
have 15% held will be less the utility costs per schedule A of the Improvement
Agreement (Private Road Maintenance) . The total estimated costs less the utilities
is $157, 270.00. 15% of $157,270.00 is $157,270 . 00 * . 15 = $23, 590 .50 this amount
will be held for collateral during the 1-year warranty period. $149,469.50 can be
released.
Thanks,
Don Dunker, P.E.
Weld County Public Works
1111 H Street
Greeley, CO 80631
phone: 970 .304 .6496 ext. 3749
fax: 970 .304.6497
ddunker@co.weld.co.us
02/15/2008
• Extre ompetence...
Absoiu a Integrity!
•
/Q'/41fmo'mA.E
Weld County Pla D.partment
December 10, 2007 ;';ILDING
1 200/
Michelle Martin
Weld County Building Department 4209CR24.5 Rmy�
,=,LA t
Longmont, CO 80501
Attention: Ms. Michelle Martin
RE: Spitfire Office Building
3601 Stagecoach Road
Longmont, Colorado
Landscaping—Letter of Credit
Permit# BCS070135
Dear Ms. Martin,
The purpose of this letter is to inform you that the building and the landscaping work are
complete at the above referenced project. We respectfully request that the letter of credit posted
by the owners for landscaping be released at this time.
If you have any questions please do not hesitate to contact our office.
Sincere}q, V
Mic le oel
Cc: Floyd Oliver- Owner
Mark Richtermeyer- Owner
4161 Mulligan Street• Longmont, Colorado 80504 • (303) 682-9906 Office • (303)-484-5101 Fax
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GUARANTY BANK
AND TRUST COMPANY," 7(
AMENDMENT NO. 01
TO IRREVOCABLE LETTER OF CREDIT NO. 6022
Dated May 1,2007
This page shall be attached to and become an integral part of the above
referenced Letter of Credit.
May 1,2008
Beneficiary:
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY
P.O. Box 758
Greeley, CO 80632
Applicant:
STAGECOACH PARTNERS LLC
2385 Homestead PI
Longmont,CO 80504
Dear Sir or Madam:
At the request of and for the account of our customer, the above referenced Letter of
Credit issued in your favor in the amount of$173,060.00 is amended as follows:
********
1. The amount is DECREASED by$149,469.50 for a new total amount of
$23,590.50.
*********
All other terms and conditions of the original Letter of Credit shall remain unchanged
and in full force and effect.
Indicate your acceptance or rejection of this amendment by signing the enclosed copy,
and returning it in the envelope provided.
Accepted Rejected
Sincerely,
GUARANTY BANK AND TRUST COMPANY
Jti(CL — !Streit
Thomas V. Hombacher L is O. Sletvold
Senior Vice President Letter of Credit Administration Officer
Denver Metro 303-293-5500•Northern Colorado 970-454-4220 • www.guaranlyhankco.com
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