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Home My WebLink About20082054.tiff 9 j RESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR SITE PLAN REVIEW, SPR#407 - FOSTER EQUIPMENT COMPANY, DBA FOSTER AND FOSTER, LLC, C/O NEAL AND JUDITH FOSTER 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 January 4, 2007, the Department of Planning Services approved the application of Foster Equipment Company, dba Foster and Foster, LLC, 12739 County Road 4, Brighton, Colorado 80601, c/o Neal and Judith Foster, 2813 Cortina Lane, Evergreen, Colorado 80439, through Randal King, 300 Madison Avenue, Loveland, Colorado 80537, for an office building for heavy equipment sales, service, warehouse, and maintenance building for heavy equipment on the following described real estate, to wit: Lot A of Amended Corrected Recorded Exemption #470; being part of the SE1/4 of Section 30, Township 1 North, Range 66 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on May 7, 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 Foster Equipment Company, dba Foster and Foster, LLC, c/o Neal and Judith Foster, through Randal King, with terms and conditions being as stated in said agreement, and accepted Irrevocable Standby Letter of Credit No. 1327, drawn on Colorado Business Bank, 821 17th Street, Denver, Colorado 80202, in the amount of$87,408.00, and WHEREAS, staff from the Weld County Departments of Planning Services and Public Works have conducted a visual inspection and recommend release of said collateral. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado,that Irrevocable Standby Letter of Credit No. 1327, drawn on Colorado Business Bank, in the amount of$87,408.00 be, and hereby is, canceled and released. BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is, directed to return said collateral to the appropriate issuing party. 1 IUD 11111111111 III 111111111111111111 III 11111 IIII IIII 2008-2054 3570964 08/07/2008 02:33P Weld County, CO PL1893 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder e 0 ,≤ r'GC- 1 CANCEL COLLATERAL - FOSTER EQUIPMENT COMPANY, DBA FOSTER AND FOSTER, LLC, C/O NEAL AND JUDITH FOSTER PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 28th day of July, A.D., 2008. BOARD OF COUNTY COMMISSIONERS tri WELD COUNTY, COLORADO ATTEST: William H. Jerke, Chair Weld County Clerk to t B • ) } I n Robert Ma ro-Tem BY. 1 Deputy Clerk the Board L William F. Garcia APPROV AS TO EXCUSED David E. Long ounty Attorney n -Douglas a errlaher Date of signature: 1d 111111111111111111III111111111111111111III11111IIII Iiii 2008-2054 PL1893 3570964 08/07/2008 02:33P Weld County, CO 2 of 2 R 0.00 0 0.00 Steve Moreno Clerk & Recorder (girt MEMORANDUM V IVint TO: Board of County Commissioners COLORADO DATE: July 22, 2008 ,/� FROM: Michelle Martin ! 1 SUBJECT: SPR-407 The Department of Planning Services received a letter from the applicant dated 4/17/08 indicating the improvements have been done on the site. Three site inspections on 5/7/08, 6/30/08 and 7/22/08 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 eighty seven thousand four hundred eight dollars ($87,408.00) for the on-site improvements. 2008-2054 MEMORANDUM TO: Michelle Martin, Planning Services DATE: 4/16/2008 FROM: Donald Carroll, Engineering Administrator SUBJECT: SPR-407, Foster Equipment Company The Weld County Public Works Department has received a request for the release of collateral in the form of a letter of credit No. 1327 held with the Colorado Business Bank. The Weld County Public Works Department has verified the transportation portion, storm water retention pond, and parking lay out have all been installed to satisfaction. All other non- transportation items should be verified by Planning Services. The Weld County Public Works Department recommends release of collateral for the transportation portion in full with no collateral retained. pc: SPR-407 M:\PLANNING-DEVELOPMENT REVIEW\SPR-Site Plan Review\SPR-407,Foster Equipment Co.DOC ' County Planning Department OUTHWEST BUILDING Foster& Foster, LLC 12769 Weld County Road 4 APR 1 8 2008 Brighton, CO 80603 303 659-3900 "„ E I V E D April 17, 2008 Michelle Martin Weld County Planning 4209 County Road 24.5 Longmont, CO 80504 Subject: Release of Letter of Credit for Improvements Agreement Dear Ms. Martin: Foster& Foster, LLC would like to request to that our Letter of Credit be released on the Improvements Agreement for 12769 Weld County Road 4. To our knowledge, everything has been completed according to the agreement. Sinc el Neal Foster i R TE EQUIPMENT Ca, INC. 12739 Weld County Rd.#4•Brighton, Colorado 80603 Phone:303-659-3900 • Fax..303-659-5158 May 31, 2008 Ms. Michelle Martin Weld County Planning Office 4209 CR 24 1/2 Longmont, Colorado 80504 Dear Michelle: This letter is in response to your concerns relative to landscape areas at our new location at 12769 Weld County Road 4, Brighton, Colorado. 1. Concern: On the south end of the structure the landscaped areas are larger than originally submitted. Response: Directly in front of the office building (south end), ten foot of additional gravel was placed to complete two tasks. First, Foster Equipment Co., Inc. decided not to use landscape rock between the buildings. Concrete was placed between the two buildings and more rock was added to the south side of the office building to enhance the appearance. The area from the west property line to the driveway is supporting an additional 1400 square feet of landscape rock. The remaining landscape rock area on the south has increased from ten feet to twelve feet. During the installation process, we felt the landscape rock would look better if it was flush with the back of the inset of the existing chain link gates that runs from the driveway east to the edge of the property line. This area now supports an additional 280 square feet of landscape rock. 2. Concern: In the vicinity of the well, the landscape rock was shown squared off Response: During the installation process, a review by King Contracting determined that squared off landscape rock did not allow for the proper display of equipment. Therefore, we chose to angle it off trying to make it an area that blends well with the new well house and the inset in the southeast corner of the property. If you calculate the point that was removed from landscape and then fill in the two valleys as denoted on the print, you will see we have actually balanced, if not exceeded slightly, the amount of landscape rock. Ms. Michelle Martin May 31, 2008 Page 2 3. Concern: Landscape rock on the east side of the property along north/south fence is less than 10' wide. Response: Adjustment in width of landscape rock is now 10' wide or greater. 4. Concern: Landscape rock around detention pond is less than six feet wide. Response: Adjustment in width of landscape rock is now six feet wide or greater. 5. Concern: Landscape rock on west side of building is short approximately one foot between the landscaping shown and the edge of the fence. Response: Upon our investigation and measurement, we are actually larger than shown on the landscaping plan between the building and the edge of the fence. Therefore, as far as we are concerned the west end of the property must have been a measuring mistake and we have met the intent of the prints with excess. 6. Concern: The area between the buildings is concrete versus landscape rock. Response: Snow and ice build up last winter presented a problem and water runoff between the two buildings was better controlled with concrete. 7. Concern: Landscaping islands in front of office building were not installed as indicated on prints. Response: Since water is not available for landscaping, we substituted concrete. Concrete will also be better for snow removal. 8. Concern: Landscaping island east of office building was not installed as indicated on prints. Response: Since water is not available for landscaping, we substituted concrete. Concrete will also be better for snow removal. 9. Concern: Parking lot bumpers were not placed. Response: Parking lot bumpers are now placed. Ms. Michelle Martin May 31,2008 Page 3 10. Concern: Foster Equipment Co., Inc. business sign not installed with reflective address. Response: Foster Equipment Co., Inc. business sign is now installed with reflective address. In closing, I believe we have met the landscaping requirements. If you calculate the extra rock on the front of the office building, there is 1,680 square feet of additional square footage covered with landscape rock. If you calculate the areas that were removed by Foster Equipment Co., Inc., it is 1,142 square foot. Therefore, we have an additional 538 square feet of landscaping rock on this site than required by the approved plan. Sincerely, • Fost quipment Co., Inc. Nea Foster President .. ri . . t..tR , , . . 1 iii,;. • - i r 1 ! I 1 i it ii . 1111 /1 W O. .a Tr N i 4 N T"' , CD OCI O O . O O r i I II fil _ . I t Ili 1 I • n at a • • i a• ; • . ... - - di::)-.**1-ii "6- . tt- al 1 4• • . . I r .i 2 y i c i S t . � •• w V i. 5., 1 , : 'id:.kV�fC14..:11.1:46....Z. 1 • ! ... ,. . .. ...... v..., .. , i. yt may.. .r . . - ,,j Y i 's •fi• l\ • 4 N N — -', '$ N , t... .„r - ^3 L...,.._ _...: ::-.. . ,.. .. .. . . . ._ . ,.. .. .. . ., X , , ....... (0 0) N CD OI _. :r : T,'--. `: J _ .L - -- .. r I • , , 1 I' 'f • `, -4' . , 1- . 5 1 f f- • I/ / / .. -.• • • 1114% Ns, COLORADO & ' •0,2 er erera c-too fi by BUSINESS BANK IlePor� o 6,21 Lee IRREVOCABLE STANDBY LETTER OF CREDIT 1erk 28'2 o8o/ect, r° t Letter of Credit Number: 1327 he 8 Expiration Date: April 30, 2008 ° ry Date: April 25, 2007 Beneficiary Name: Board of County Commissioners, ATTN: Clerk of the Board Address: P.O. Box 758 City, State, Zip Code: Greeley, CO 80632 Applicant Name: Foster& Foster, LLC Address: 12739 Weld County Road#4 City, State, Zip Code: Brighton, CO 80601 We hereby issue our Irrevocable Standby Letter of Credit No. 1327 in your favor in the amount of Eighty Seven Thousand Four Hundred Eight U.S. Dollars (USD $87,408.00) and expiring at the close of business (3:00 p.m. Mountain Time) on April 30, 2008 at our counters at Colorado Business Bank, Loan Operations Department 3rd floor, 821 17th Street, Denver, CO 80202. This letter of credit is available by presentation of your draft at sight, drawn on Colorado Business Bank, accompanied by the original letter of credit and amendment(s), if any. In the event of a partial draw, this letter of credit is available by presentation of your draft at sight, drawn on Colorado Business Bank and certified copies of the original letter of credit and amendment(s), if any. Special Conditions: Partial drawings are allowed. This Letter of Credit is subject to the following terms and conditions: (1) All drafts so drawn must be marked drawn under Colorado Business Bank Letter of Credit number 1327. (2) Any draft(s) drawn by you under this Letter of Credit shall be accompanied by a statement executed by an authorized official of the Board of County Commissioners of Weld County, Colorado stating that Foster & Foster, LLC has committed a material breach of the Improvements Agreement according to Policy regarding collateral for Improvements dated 15th day of January, 2007 by and between Foster & Foster and the Board of County Commissioners of the County of Weld, and that such material breach entitles the Board of County Commissioners of Weld County, Colorado to draw on Irrevocable Letter of Credit number 1327. 821 17th Street•Denver, Colorado 80202 g JB Tgl 3303P31i°I_„ax ₹ ' .3477 C�.\Docnments and Settings oodwin\Local Settin s\Tem `IH� 9 Oster Fos[er LLC#1327 Letter of Credit doc Letter of Credit No. 1327 Dated: April 25, 2007 It is a condition of this Letter of Credit that it will be automatically extended without amendment for an additional period of 12 months from the present and each future expiration date, unless 60 days prior to the then relevant expiration date, Colorado Business Bank notifies the beneficiary in writing that the we elect not to extend this Letter of Credit for any additional period. This Letter of Credit will have a full and final maturity date of May 1, 2010. We hereby agree with you that drafts drawn under and in accordance with the terms of this letter of credit will be duly honored upon presentation of drafts(s) and required document(s) at our office no later than the close of business (3:00 p.m. Mountain Time) at 821 17th St., Loan Operations Department 3rd floor, Denver, Colorado 80202, U.S.A. on or before the expiry date of this Letter of Credit. Unless otherwise expressly stated, this letter of credit and all negotiations hereunder shall be governed by and construed in accordance with the International Standby Practices ISP98, as published by the International Chamber of Commerce Publication No. 590, and, to the extent not inconsistent therewith, the laws of the State of Colorado. This letter of credit is not transferable unless Colorado Business Bank agrees to the transfer in writing. Please direct any inquiries with regard to this Letter of Credit to Colorado Business Bank, Loan Operations Department, 821 17th Street, Denver, CO 80202 (303)293-2265. Colorado Business Bank, Darlene A. Evans Senior Vice President 821 17th Street•Denver,Colorado 80202 Tel.303.312. 400•F 1 3477 CADocuments and Settings\jgoodwin\Local Settings\Temp �s� nee \ Oster Foster LLC#I327 Letter of Credildoc 1(lie\ ‘1, CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 FAX: (970) 352-0242 P. O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO July 30, 2008 DARLENE EVANS SENIOR VICE PRESIDENT COLORADO BUSINESS BANK 821 17TH STREET DENVER COLORADO 80202 RE: Cancellation and release of Collateral - Foster & Foster, LLC Ms. Evans: Attached hereto please find the Board of County Commissioners Resolution releasing the collateral for Foster & Foster, LLC, and the original Irrevocable Letter of Credit issued by Colorado Business Bank issuing collateral, in the amount of$87,408.00. If you have questions or need additional information, please do not hesitate to contact me at (970) 356-4000, Extension 4227. Very truly yours, BOARD OF COUNTY COMMISSIONERS By: Donna J. Be c er, Deputy Clerk to the Board I\Cr jorm CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4225 WI D FAX: (970) 352-0242 P. O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO July 30, 2008 FOSTER AND FOSTER LLC 12739 COUNTY ROAD 4 BRIGHTON COLORADO 80601 RE: Cancellation and release of Collateral for Foster & Foster, LLC Mr. Foster: On July 28, 2008, the Board of County Commissioners approved the cancellation and release of collateral for SPR #407, in the amount of$87,408.00, as referenced above. Enclosed is a copy of the Resolution signed by the Board of County Commissioners. I will forward a copy of the signed and recorded Resolution to you as soon as it has been recorded. The Irrevocable Letter of Credit has been returned to Colorado Business Bank. If you have questions or need additional information, please do not hesitate to contact me at(970) 356-4000, Extension 4227. Very truly yours, BOARD OF COUNTY COMMISSIONERS By: Donna J. Bec er Deputy Clerk to the Board Hello