HomeMy WebLinkAbout950066.tiffRESOLUTION
RE: APPROVE RELEASE OF COLLATERAL FOR LOT ONE, FORT JUNCTION PUD, FIRST
PHASE - THE VILLA AT GREELEY, INC.
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, by Resolution dated June 1, 1994, the Board did approve an Improvements
Agreement According to Policy Regarding Collateral for Improvements (Phased Development) with
The Villa at Greeley, Inc., concerning property which is located in part of the SW% of Section 2,
Township 2 North, Range 68 West of the 6th P.M., Weld County, Colorado, and
WHEREAS, pursuant to said agreement, Letter of Credit #547, drawn on the Union Colony
Bank, in the amount of $22,393, was submitted to Weld County, and
WHEREAS, John T. Coppom, Administrator, The Villa at Greeley, Inc., has presented the
Board with a request for release of said collateral for completion of the first phase of construction.
WHEREAS, after study and review, and based upon the recommendations from the
Departments of Planning Services, Public Works, and County Attorney staff, the Board deems it
advisable to approve said release of collateral in the amount of $22,393, to The Villa at Greeley,
Inc.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that Letter of Credit #547, drawn on the Union Colony Bank, in the amount of
$22,393, be, and hereby is, released.
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 16th day of January, A.D., 1995.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, CpLORADO
ATTEST:
Weld County Clerk to the Board
BY: 21i.( 41.194_,Art
t
Deputy Clerk td the Board
APPR>2V AS TO FORM:
y Attorney
Dale K. Hall, Chairman
FxCIisFn
Barbara J. Kirkmeyer, ro-Tem
25,
(_/
,
/orge'E. Baxter
Constance L. Harbert
l ' ! (
W. A. Webster
VI:',.
IL
950066
PL0100
COLORADO
C
DEPARTMENT OF PLANNING SERVICES
PHONE (303) 353-6100, EXT.3540
FAX (303) 351-0978
WELD COUNTY ADMINISTRATIVE OFFICES
1400 N. 17TH AVENUE
GREELEY, COLORADO 80631
January 11, 1995
Board of County Commissioners
915 10th Street
Greeley, Colorado, 80631
Subject: Release of Collateral for lot one of Fort Junction PUD first phase, Located in part of
the SW '/4 of Section 2, Township 2 North, Range 68 West of the 6th P.M., Weld
County, Colorado
Dear Board:
John T. Coppom submitted a letter requesting that the collateral for the first phase of
construction be released. The collateral secured for this was an Irrevocable Letter of Credit
#547 drawn on the Union Colony Bank, in the Amount of Twenty-two Thousand Three
Hundred Ninty-three Dollars ($22,393.00), Dated May 27, 1994. Mr. Coppom is requesting
that the total amount be released at this time. This request was reviewed by the Attorneys
office and Public works.
The Department of Planning Services' Staff recommend that the collateral be released at this
time.
Respectfully,
c
urrent Planner II
pc: Don Carrol, Weld County Public Works
Lee Morrison, Assistant County Attorney
S-344
950066
SERVICE, TEAMWORK, INTEGRITY, QUALITY
fel
Wk. To
COLORADO
From
Subject:
mEmoRAnMum
Keith Schuett, Current Planner II 1/10/95
Dote
Don Carroll, Administrative Coordinator FLT'
Ft. Junction PUD: The Villa
This memorandum is to verify that Phase One has been completed of the Improvements Agreement
totaling $22,393.00 with accordance to Exhibit A of the PUD document. I have no conflict with
releasing the storm sewer facilities, retention ponds, engineering and supervision costs.
Bill Hange (KLH Engineering) and I have made an on -site inspection to verify the grades, access
and erosion control plan improvements.
cc: Commissioner W.H. Webster
Subdivision file Ft. Junction PUD S-344
:planl.dc
( e901g51-1._\1
JAN i ' 1995
crtrign
950066
THE
MIK
1750 6th Avenue • Greeley, Colorado 80631 • (303) 353-9263
John T. Coppom, Ph.D.
Administrator
December 12, 1994
Mr. Keith Schuett
Weld County Department of Planning Services
1551 N. 17th Ave.
Greeley, CO 80631
Dear Mr. Schuett:
Attached is a Statement of Substantial Compliance indicating
that The Villa has completed Phase One of their development on Lot
1 of the Fort Junction P.U.D. The projected costs outlined in
Phase One of the Improvements Agreement totalled $22,393.00, and an
Irrevocable Letter of Credit from Union Colony Bank for that amount
has served as collateral. The actual cost of the Phase One
development is $23,083. Please consider this a Request for Release
of Collateral for the Phase One development. Thank you very much.
Sincerely,
10
John T. Coppom
LL11G]_1!
DEC 2 7 1994
950066
KLH
Engineering Group
December 19, 1994
KLH Engineering Group Greeley, Inc.
a subsidiary of KLH Engineering Group, Inc.
Mr. Keith Schuett Services
Weld County Department of Planning
1551 N. 17th Avenue
Greeley, CO 8O631
Dear Mr. Schuett:
RE: Statement of Substantial Compliance - Del Camino Pre -Release
Facility. Our Project No. 94033.00
The Del Camino Pre -Release Facility has received approval for an
Improvements Agreement.
The purpose of this letter is tinform
o eldiCoCounty
tthat I haieg,
personally made an on -site inspection
access, and erosion control plan improvements designed, have been
constructed in accordance with KLH Engineering construction plans
approved by Weld County.
As the engineer for this portion of the project I see no reason
why a request for release of collateral should not be approved.
I am a Registered Engineer in the State of Colorado (# 19967).
Thank you for your consideration in this matter.
Sincerely yours,
KLH ENGINEERING, INC
l 7�
William A. Hange, Jr. P.E.
001,10/00
VQ Ri:%s. /
c.) rt.
.41(ifeniPsinAili‘t‘i;":".
•
822 Seventh Street, Suite 5, Greeley, Colorado 80631 (303) 351.0550 FAX (303) 3519-0579
CS
Hensel Phelps
Construction Co
P.O. Box 0
420 Sixth Avenue
Greeley. Colorado 80632
(303) 352-6565
The Villa
1750 6th Avenue
Greeley, CO 80631
DATE 12/14/94
XX
STATEMENT NET DUE UPON
RECEIPT. INTEREST CHARGED ON PAST DUE
ACCOUNTS.
DEBIT MEMO WE HAVE
DEBITED YOUR ACCOUNT IN THE TOTAL
AMOUNT SHOWN BELOW. THIS AMOUNT
WILL BE DEDUCTED FROM SUBSEQUENT
PAYMENTS UNLESS YOUR REMITTANCE IS
RECEIVED PRIOR TO PAYMENT DATE.
SUBJECT: Del Camino Pre Release Center
Phase I Construction
B ALANCE FORWARD FROM PREVIOUS STATEMENT
1. PHASE I CONSTRUCTION DEL CAMINO PRE RELEASE CENTER
A.
B.
C.
D.
Supervision and Administration
Excavation
Construction of Culvort
Construction of Erosion Control Fence
TOTAL COST FOR PHASE I CONSTRUCTION
950 66
INQUIRIES REGARDING THESE CHARGES SHOULD BE DIRECTED TO PROJECT MANAGER IN CHARGE OF REFERENCED PROJECT
3,778.00
16,200.00
1,355.00
1,750.00
23,083.00
PAY LAST
AMOUNT IN
THIS COLUMN
UNION
COLONY
BANK,
1701 TWENTY THIRD AVENUE
POST OFFICE BOX 961
GREELEY, COLORADO 80 63 2-09 61
(303) 356-7000
FAX (303) 356-1013
IRREVOCABLE LETTER OF CREDIT
/
NAME: Weld County Board commissioners DATE: yiay 27, 1994
(Hereinafter called "Beneficiary") NUMBER: /547
ADDRESS: AMOUNT:;/ $22,393.00
EXPIRES: May 30, 1995
To Whom It May Concern:
/
Please be advised that Union Colony Bank, A State Chartered Bank
(hereinafter called the "Issuer"), establishes an Irrevocable
Letter of Credit in favor of the Beneficiary for the account of
The Villa At Greeley, Inc. (hereinafter called "Customer") up to
the aggregate sum of Twenty Two Zhousand Three Hundred Ninety
Three Dollars ($22,393.00) avai/3able by Beneficiary's drafts at
sight drawn on Issuer.
f
All drafts drawn under this /Letter of Credit must bear the
clause:
"Drawn under Union Colony Bank Letter of Credit No. 547
dated May 27, 1994."
Issuer hereby agrees with Beneficiary that drafts drawn strictly
in compliance with the terms of the credit will be duly honored
upon due presentation to Issuer.
Other terms and conditions of this Letter of Credit shall:
1. Expire at Issuer's counter on or before 3:00 p.m.
Mountain time May 30, 1995, date of release by Weld
County Board of the final 15% or one year from the
date of Final Plat approval, whichever occurs first.
The Letter of Credit shall remain in full force and
effect until after the Board has received sixty (60)
days written notice from the issuer of the Letter of
Credit of the pending expiration. Said notice will
be sent by certified mail to the Clerk to the Board
of County Commissioners.
2 Fifteen percent (15%) of the total Letter of Credit
amount cannot be drawn upon and will remain available
to Weld County until released by Weld County.
3. Not be transferrable;
4. Be governed by the laws of the State .f Colorado, in-
cluding Article Five of the Uniform/.Commercial Code; and
5. Be subject to the Uniform Customs/and Practice for
Documentary Credits; International Chamber of Commerce
Publication Number 400.
/
Sincerely,
Garth L. Gibson
Executive Vice President
/
PLEASE RETURN UPON EXPIRATION
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