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Home My WebLink About20242738.tiffRESOLUTION RE: APPROVE CANCELLATION AND FULL RELEASE OF WARRANTY COLLATERAL (PHASE TWO - PANORAMA WIND) FOR USE BY SPECIAL REVIEW PERMIT, USR19-0014 - LEEWARD RENEWABLE ENERGY DEVELOPMENT, LLC 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 June 10, 2019, the Weld County Board of Commissioners approved the application of Leeward Renewable Energy Development, LLC, 6688 North Central Expressway, Suite 500, Dallas, Texas 75206, for a Site Specific Development Plan and Use by Special Review Permit, USR19-0014, for a 1041 Major Facility of a Public Utility (a wind energy facility for up to 380 megawatts (MW), along with one (1) 230 kilovolt (kV) transmission line approximately eleven (11) miles in length and one (1) 115 kV transmission line approximately fifteen (15) miles in length, two (2) electrical substations, two (2) temporary laydown yards and two (2) temporary concrete batch plants along with up to seven (7) temporary construction trailers to be utilized during the construction of the facilities and six (6) meteorological towers) in the A (Agricultural) Zone District, on the following described real estate, being more particularly described as follows: The facility is located in Sections 6, 7, and 8, Township 10 North, Range 58 West; Section 1, Township 10 North, Range 59 West; Sections 2 and 3, Township 10 North, Range 60 West; Sections 1, 3, 4, 5, 6, 7, 9, 10, 19, 30, and 31, Township 11 North, Range 58 West; Sections 1, 2, 3, 4, 5, 7, 8, 9, 10, 11, 12, 15, 17, 18, 19, 20, 22, 23, 24, 25, 29, and 36, Township 11 North, Range 59 West; Sections 13, 14, 23, 24, 25, 26, and 35, Township 11 North, Range 60 West; Sections 19, 20, 21, 25, 26, 27, 29, 32, 33, 34, 35, and 36, Township 12 North, Range 58 West; Sections 19, 20, 21, 22, 24, 26, 27, 28, 29, 30, 31, 32, 34, 35, and 36, Township 12 North, Range 59 West; and Sections 22, 23, 24, 25, 26, and 27, Township 12 North, Range 60 West of the 6th P.M., Weld County, Colorado WHEREAS, on July 7, 2021, pursuant to certain Conditions of Approval, the Board approved an Improvements and Road Maintenance Agreement According to Policy Regarding Collateral for Improvements (Phase Two — Panorama Wind, LLC), between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Leeward Renewable Energy Development, LLC, with terms and conditions being as stated in said agreement, and accepted an Irrevocable Standby Letter of Credit #IS000204292U, from Wells Fargo Bank, National Association, U.S. Trade Services, 794 Davis Street, 2nd Floor, MAC A0283- 023, San Leandro, California 94577-6922, on behalf of Panorama Wind, LLC, in the amount of $2,000,000.00, and 4989876 Pages: 1 of 3 CC•.PI-(ER/MW/DA /51T'l/KR/Mw) 10/23/2024 10:25 AM R Fee:$0.00 $0.00 2024-2738 Carly Koppes, Clerk and Recorder, Weld County , CO (0/30/29 PL2672 VIII WV rl h'h ;l�� LI �� '� K1� "Ill CANCELLATION AND FULL RELEASE OF WARRANTY COLLATERAL (PHASE TWO - PANORAMA WIND, LLC) - LEEWARD RENEWABLE ENERGY DEVELOPMENT, LLC (USR19-0014) PAGE 2 WHEREAS, the Department of Planning Services received a request from Leeward Renewable Energy Development, LLC, that the Board of County Commissioners release the project collateral (Phase Two — Panorama Wind, LLC), in the form of an Irrevocable Standby Letter of Credit #IS000204292U from Panorama Wind, LLC, in the amount of $2,000,000.00, and accept warranty collateral in the form of Amendment Number 001 to Irrevocable Standby Letter of Credit #IS000204292U, from Panorama Wind, LLC, guaranteed by Wells Fargo Bank, National Association, Attn: U.S. Trade Services, Standby Letters of Credit, 401 North Research Parkway, 1st Floor, MAC D4004-017, Winston-Salem, North Carolina 27101-4157, decreasing the amount of $2,000,000.00 by $1,700,000.00 to $300,000.00, and WHEREAS, on October 2, 2024, the Department of Planning Services received a request from Yvonne Trejo, representative for Leeward Renewable Energy Development, LLC, to release the collateral for the two (2) year warranty period that ended on August 31, 2024, and WHEREAS, staff from the Weld County Departments of Public Works and Planning Services have conducted a visual inspection and upon recommendation of staff, the Board deems it advisable to release said collateral. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the currently held warranty collateral, procured in the form of Amendment Number 001 to Irrevocable Standby Letter of Credit #IS000204292U, drawn on the Panorama Wind, LLC, guaranteed by Wells Fargo Bank, National Association, Attn: U.S. Trade Services, Standby Letters of Credit, 401 North Research Parkway, 1st Floor, MAC D4004-017, Winston-Salem, North Carolina 27101-4157, in the amount of $300,000.00, 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. 4989876 Pages: 2 of 3 10/23/2024 10:25 AM R Fee:$0.00 Carly Koppes, Clerk and Recorder, Weld County , CO IIIIIKEIH4ItigiNVIiiMIONCIIM0U II III 2024-2738 PL2672 CANCELLATION AND FULL RELEASE OF WARRANTY COLLATERAL (PHASE TWO - PANORAMA WIND, LLC) - LEEWARD RENEWABLE ENERGY DEVELOPMENT, LLC (USR19-0014) PAGE 3 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 16th day of October, A.D., 2024. BOARD OF COUNTY COMMISSIONERS ATTEST: 1 „vi :4 Weld County Clerk to the Board a,( )eurzto u�mk Deputy Clerk to the Bo -rd APP ED ounty At Date of signature: y I0 4989876 Pages: 3 of 3 10/23/2024 10:25 AM R Fee:$0.00 Carly Koppes, Clerk and Recorder, Weld County CO VIii f ��lr�ilCh'��'I ti � �'1��41� N�71fti�Y4�h II 01 WELD COUNT Perry L. Btk, Pro-Tem reeman ri Saine 2024-2738 PL2672 WELLS FARGO Copt May 17, 2024 Reference ID: W5188-05-5-10003056 *********** ***AUTO*`ALL FOR AADC 800 T31 P2 00011477 IS000204292U CLERK OF THE WELD COUNTY DISTRICT ATTENTION: CLERK TO THE BOARD 1150 O STREET, P.O. BOX 758 GREELEY, CO 80632-0758 New address for your standby letter of credit document presentations/contact Dear Beneficiary: As a reminder, our Standby Trade Operations and Standby Customer Care teams have moved to a new location. Our customer service phone number, fax numbers, and SWIFT business identifier code (BIC) remain the same. What you need to do Effective March 19, 2024, a new address replaced our San Leandro and Winston Salem locations. You should deliver your standby letter of credit communications to the new address listed below. For standby letters of credit that have required draw/demand documents to be presented to the San Leandro or Winston Salem address, the draw/demand documents must be presented to the new address listed below. To ensure timely processing, please make sure you use the complete address as provided: Wells Fargo Bank Standby Trade Operations MAC D1109-012 1525 W W.T. Harris Blvd. Charlotte, NC 28262 Primary SWIFT BIC: PNBPUS33SLC Secondary SWIFT BIC: WFBIUS6S Please ensure all correspondence is addressed to our new location, including draws/presentations that were previously required to be directed to our San Leandro or Winston Salem locations. We will not be responsible for any delays resulting from mail being addressed to the San Leandro or Winston Salem addresses. © 2024 Wells Fargo Bank, N.A. Member FDIC. Reference ID: W5188-05-5-10003056-00011477 (Over, please) TM-LTR11-NS-20 �Le2L 7�-- Questions If you have questions, contact the Standby Customer Care team at 1-800-776-3862, option 2, Monday through Friday 5:00 a.m. to 5:00 p.m., Pacific Time. Thank you. We appreciate your business. Kristen Hill Trade Services Manager Standby Trade Operations 2i2 Reference ID. W5188-05-5-10003056-00011477 WELLS FARGO Wells Fargo Bank, N.A. U.S. Trade Services Standby Letters of Credit 401 N. Research Pkwy, 1st Floor MAC D4004-017, Winston-Salem, NC 27101-4157 Phone: 1(8o0) 1(8.7 76-3862 OP... E -Mil: sblc-new@wellsfargo.com Amendment To Irrevocable Standby Letter Of Credit Number: IS000204292U Amendment Number : 001 Amend Date : August 10, 2022 BENEFICIARY APPLICANT BOARD OF COUNTY COMMISSIONER OF WELD COUNTY ATTENTION: CLERK TO THE BOARD 1150 O STREET, P.O. BOX 758 GREELEY, COLORADO 80631 LADIES AND GENTLEM AT THE REQUEST AND IRREVOCABLE STANDS by: THE CURRENT AVAILAE Dep PANORAMA WIND, LLC 6688 N. CENTRAL EXP DALLAS, TEXAS 75 SWAY, SUITE 500 COLLATERAL RELEASED NO LONGER REQUIRED by Board of Weld County Commissioners date: caliA t t- ti Clerk to the Board ALL OTHER TERMS AND CONDITIONS REMAIN UN ' ' ANGED. EBY AMEND OUR WS: THIS AMENDMENT IS TO BE ATTACHED TO T. ORIGINAL WELLS CREDIT AND IS AN INTEGRAL PART THEREOF. Very Truly Yours, WELLS FARGO BANK, N.A. By: Aut rized Signature The original of the er of Credit contains an embossed seal over the Authorized Signature. 1510 Page 1 of 2 Each page of this document is an integral part of this Irrevocable Standby Letter of Credit Number 100002042920 , Amendment Number 001 WELLS FARGO 1510 Please direct any written correspondence or inquiries regarding this Letter of Credit, always quoting our reference number, to Wells Fargo Bank, National Association, Attn: U.S. Standby Trade Services ateither 794 Davis Street, 2nd Floor MAC A0283-023, San Leandro, CA 94577-6922 or 401 N. Research Pkwy, 1st Flo MAC 04004-017, WINSTON-SALEM, NC 27 -4157 Phone inquiries regarding this credit should be directed to our Standby Customer Conn ion Professionals 1-800-776-3862 Option 2 1-800-776-386 ption 2 (Hours of Operation: 8:00 a.m. PT to 5:00 p.m. PT) (Hours of Operation: 8:00 . EST to 5:00 p.m. EST) Consent to Amendment 001 on Standby Letter of Credit No. I5000204292U is r ired to become effective. Please date and sign below and return a copy via e-mailtostandbylc@wellsf go.com orreturn an original signed copy to our office located at either: 794 Davis Street, 2nd Floor MAC A0283-023, San Leandro, CA 94577-6922 or Fax to 844-879-2898. or 401 N. search Pkwy, 1st Floor MA 4004-017, W TON -SALEM, NC 27101-4157 ax to 844-879-2898. KAmendment accepted in its entirety D Amend t rejected in its entirety AUG 322 Date ( 970 ) 400-4225 Aut r rized Signature- BOARD OF COUNTY COMMISSIONER OF WELD COUNTY Scott K. James, Chair, Board of Weld County Commissioners Telephone Number Printed Name of Authorized Signer Page 2 of 2 do-702-ate/3 Each page of this multipage document is an integral part of this Irrevocable Standby Letter of Credit Number I5000204292U , Amendment Number 001 WELLS FARGO Wells Fargo Bank, N.A. U.S. Trade Services Standby Letters of Credit 794 Davis Street, and Floor MAC Ao283-023, San Leandro, CA 94577-6922 Phone: i(800) 776-3862 Option 2 E -Mail: sblc-new@wellsfargo.com Irrevocable Standby Letter Of Credit Number: IS000204292U Issue Date : July 2, 2021 BENEFICIARY BOARD OF COUNTY COMMISSIONER OF WELD COUNTY ATTENTION: CLERK TO THE BOARD 1150 O STREET, P.O. BOX 758 GREELEY, COLORADO 80631 APPLICANT PANORAMA WIND, LLC 6688 N. CENTRAL EXP DALLAS, TEXAS 7 SWAY, SUITE 500 LETTER OF CREDIT ISSUE AMOUNT USD 2,0 ' ' , 00.00 EXPIRY DATE NOVEMBER 30, 2022 LADIES AND GENTLEMEN: AT THE REQUEST AND FOR THE ACCOUNT ' THE ABOVE REFERENCED APPLICANT, WE HEREBY ISSUE OUR IRREVOCABLE STANDBY LETTER OF CRE ' (THE "LETTER OF CREDIT') IN YOUR FAVOR IN THE AMOUNT OF USD 2,000,000 (TWO MILLION AND 00/ 0 U.S. DOLLARS) AVAILABLE WITH US AT OUR ABOVE OFFICE BY PAYMENT OF YOUR DRAFT(S) DRAW ON US AT SIGHT ACCOMPANIED BY YOUR SIGNED AND DATED STATEMENT WORDED AS FOLLO ITH INSTRUCTION IN BRACKETS THEREIN COMPLIED WITH: 'THE UNDERSIGNED, AN AUT RIZED OFFICIAL OF THE BOARD OF COUNTY COMMISSIONER OF WELD COUNTY ("BENEFICIARY"), ' ' EBY CERTIFIES THAT PANORAMA WIND, LLC ("APPLICANT") HAS COMMITTED A MATERIAL BREACH OF IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPR' 'EMENTS REGARDING PANORAMA WIND DATED JULY 7, 2021 BY AND BETWEEN THE BENEFICIARY AN ► PPLICANT." EXCEPT IN THEE T OF A FAX DRAWING (AS DEFINED BELOW) EACH DRAFT MUST ALSO BE ACCOMPANIE ' • THE ORIGINAL OF THIS LETTER OF CREDIT FOR OUR ENDORSEMENT ON THIS LETTER OF CREDIT OF O ' PAYMENT OF SUCH DRAFT. PARTIA D MULTIPLE DRAWINGS ARE PERMITTED UNDER THIS LETTER OF CREDIT. INGS MAY BE PRESENTED TO US AT OUR ABOVE OFFICE BY HAND DELIVERY OR DELIVERED TO US BY U POSTAL SERVICE MAIL, REGISTERED MAIL OR CERTIFIED MAIL OR BY EXPRESS COURIER OR OVERNIGHT OURIER. DRAWINGS MAY ALSO BE PRESENTED TO US BY FACSIMILE TRANSMISSION TO FACSIMILE NUMBER 844879-5593 (EACH SUCH DRAWING, A "FAX DRAWING"); PROVIDED, HOWEVER, THAT A FAX DRAWING WILL NOT BE EFFECTIVELY PRESENTED UNTIL YOU CONFIRM BY TELEPHONE OUR RECEIPT OF SUCH FAX DRAWING BY CALLING US AT TELEPHONE NUMBER 1-800-776-3862 (OPTION 2). IF YOU PRESENT A FAX DRAWING UNDER THIS LETTER OF CREDIT YOU DO NOT NEED TO PRESENT THE ORIGINAL OF ANY DRAWING DOCUMENTS, AND IF WE RECEIVE ANY SUCH ORIGINAL DRAWING DOCUMENTS THEY WILL NOT Page 1 of 3 Each page of this document is an integral part of this Irrevocable Standby Letter of Credit NumberIS000204292U WELLS FARGO BE EXAMINED BY US. IN THE EVENT OF A FULL OR FINAL DRAWING THE ORIGINAL LETTER OF CREDIT MUST BE RETURNED TO US BY OVERNIGHT COURIER. EACH DRAFT MUST BE MARKED "DRAWN UNDER WELLS FARGO BANK, N.A. STANDBY LETTER OF CREDIT NO. IS000204292U. IF ANY INSTRUCTIONS ACCOMPANYING A DRAWING UNDER THIS LETTER OF CREDIT REQUEST TH PAYMENT IS TO BE MADE BY TRANSFER TO AN ACCOUNT WITH US OR AT ANOTHER BANK, WE I/OR SUCH OTHER BANK MAY RELY ON AN ACCOUNT NUMBER SPECIFIED IN SUCH INSTRUCTIONS . N IF THE NUMBER IDENTIFIES A PERSON OR ENTITY DIFFERENT FROM THE INTENDED PAYEE. THIS LETTER OF CREDIT EXPIRES AT OUR ABOVE OFFICE ON NOVEMBER 30, 2022, BUT LL BE AUTOMATICALLY EXTENDED, WITHOUT WRITTEN AMENDMENT, TO NOVEMBER 301 ACH SUCCEEDING CALENDAR YEAR, UNLESS WE HAVE SENT WRITTEN NOTICE TO YOU AT YOUR AD ' ' SS ABOVE BY REGISTERED MAIL OR EXPRESS COURIER THAT WE ELECT NOT TO EXTEND THIS ER OF CREDIT BEYOND THE DATE SPECIFIED IN SUCH NOTICE WHICH DATE, WILL BE NOVEMBER 30, 2 OR ANY SUBSEQUENT NOVEMBER 30 AND BEAT LEAST NINETY (90) CALENDAR DAYS AFTER THE ► TE WE SEND YOU SUCH NOTICE. UPON OUR SENDING YOU SUCH NOTICE OF THE NON-EXTENSI • OF THE EXPIRATION DATE OF THIS LETTER OF CREDIT, YOU MAY ALSO DRAW UNDER THIS LETTER O REDIT BY PRESENTATION TO US AT OUR ABOVE ADDRESS, ON OR BEFORE THE EXPIRATION DATE SPECI. DIN SUCH NOTICE, OF YOUR DRAFT DRAWN ON US AT SIGHT ACCOMPANIED BY YOUR SIGNED AND ED STATEMENT WORDED AS FOLLOWS: 'THE UNDERSIGNED, AN AUTHORIZED OFFICIAL OF THE B FICIARY OF THE BOARD OF COUNTY COMMISSIONER OF WELD COUNTY ("BENEFICIARY"), HE Y CERTIFIES THAT WE RECEIVED NOTICE FROM WELLS FARGO BANK, N.A. THAT THE LETTER OF CREDI ' O. IS000204292U WILL NOT BE RENEWED AND THAT PANORAMA WIND, LLC ("APPLICANT") HAS F ED TO PROVIDE PROOF OF ADEQUATE COLLATERAL AND SUBSTITUTION OF THIS LETTER OF CREDIT IS000204292U." WE HEREBY ENGAGE WITH YOU THAT EACH ► 'AFT PRESENTED UNDER AND IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS LETTER ' CREDIT WILL BE DULY HONORED IF PRESENTED TOGETHER WITH THE DOCUMENTS SPECIFIED IN T LETTER OF CREDIT AT OUR OFFICE LOCATED AT 794 DAVIS STREET, 2ND FLOOR, SAN LEANDRO, 94577-6922, ATTENTION: US TRADE SERVICES - STANDBY LETTERS OF CREDIT ON OR BEFORE THE ABO STATED EXPIRY DATE, OR ANY EXTENDED EXPIRY DATE IF APPLICABLE. EXCEPT AS OTHERWISE EXPR - • SLY STATED HEREIN, THIS LETTER OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE F' ' DOCUMENTARY CREDITS (2007 REVISION), THE INTERNATIONAL CHAMBER OF COMMERCE PUBLICA a N NO. 600, AND ENGAGES US IN ACCORDANCE THEREWITH. Very Truly Yours, WELLS F = ' - • BA N.A. Authorized Signature The on • al of the Letter of Credit contains an embossed seal over the Authorized Signature. Page 2 of 3 Each page of this multipage document is an integral part of this Irrevocable Standby Letter of Credit Number 15000204292U WELLS FARGO Please direct any written correspondence or inquiries regarding this Letter of Credit, always quoting our reference number, to Wells Fargo Bank, National Association, Attn: U.S. Standby Trade Services ateither 794 Davis Street, 2nd Floor MAC A0283-023, San Leandro, CA 94577-6922 ar 401 N. Research Pkwy, 1st Floor MAC O4004-017, WINSTON-SALEM, NC 27101-4 Phone inquiries regarding this credit should be directed to our Standby Customer Connection • •fessionals 1-800-776-3862 Option 2 1-800-776-3862 Optio (Hours of Operation: 8:00 a.m. PT to 5:00 p.m. PT) (Hours of Operation: 8:00 a.m. ES O 5:00 p.m. EST) Page 3 of 3 Each page of this multipage document is an integral part of this Irrevocable Standby Letter of Credit Number I5000204292U November 19, 2024 CLERK TO THE BOARD PHONE: (970)400-4225 FAX: (970) 336-7233 1150 O STREET P. O. BOX 758 GREELEY, CO 80632 Wells Fargo Bank Attn: Standby Trade Operations MAC D1109-012 1525 W W.T. Harris Blvd Charlotte, NC 28262 RE: Release Amendment Number 001 to Irrevocable Standby Letter of Credit #IS000204292U - USR19-0014 Leeward Renewable Energy Development, LLC Hello, Enclosed please find the released Amendment Number 001 to Irrevocable Standby Letter of Credit #IS000204292U and a copy of the Board of County Commissioner's Resolution, dated October 16, 2024, authorizing the release of said Amendment Number 001 to Irrevocable Standby Letter of Credit, held as warranty collateral in the amount of $300,000.00 for the above referenced case. If you have any questions, please contact me at (970) 400-4212, or email jreid@weld.gov. Respectfully, R Jess Reid Deputy Clerk to the Board Enclosure cc: Dawn Anderson and Jazmyn Trujillo -Martinez, Department of Planning Services Max Nader, Department of Planning Services Clerk to the Board File PL2672 N a a r -1 ru N U.S. Postal ServiceTM CERTIFIED MAIL° RECEIPT Domestic Mail Only For delivery information, visit our website at www.usps.com'•'. Certified Mail Fee $ Extra Services & Fees (check box, add fee as appropriate) ❑ Return Receipt (hardcopy) $ ❑ Return Receipt (electronic) $ ❑ Codified Mail Restricted Delivery $ ❑ Adult Signature Required $ ❑ Adult Signature Restricted Delivery $ Postage Total Postage and Fees Sent To welts far 5 Street and Apt. No. or PQ Box Na MA Dip - O1 a IS S •T. WAct\ i„ lvol City, State, ZIP+4 .. la tte. N C kftr: Sittvdby To6-- oPsrakta Postmark Here IC- N ra`+ tlihi4f_j SENDER: COMPLETE THIS SECTION I Complete items 1, 2, and 3. Print your name and address on the reverse so that we can return the card to you. ■ Attach this card to the back of the mailpiece, or on the front if space permits. 1. Article Addressed to: liocAk s cc.L.co a0.rk Mbn sitLYNckill 7-tocM ORmaktn5 rnAc. 4\\a5 -ota 1 S a5 W • \Au,rc � S C\'o l cke\4X ;cwt..) a8 ate a i 111111111111111 nil i 1111 II 9590 9402 6113 0209 7530 76 i 2. Article Number (Transfer from service label) 7021 1197❑ 00❑❑ 9❑9? ❑ 947 PS Form 3811, July 2015 PSN 7530-02-000-9053 COMPLETE. THIS SECTION ON DELIVERY A. Signature x -Eiver<gent O Addressee B. Received b rinte e) TC. Dat of Delivery D. Is delivery / address different from item 1 ? O Yes If YES, enter delive ss below: ❑ No <<✓�� &tC(I Lt a 3. Service %pe ❑ Adult Signa re ❑ Adult Signature R,s cicted Delivery erkCertified Mail - ❑ Certified Mail R ❑ Collect on Delive ❑ Collect on Delivery Restricd Deily ❑ Insured Mail ❑ Insured Mail Restricted Delivery (over $500) \\ 0 cn ° Priority/Mall Express® O Registered Mann, El Registered Mail Restricted Delivery ❑ Return Receipt for Merchandise Signature Confirmation TM Signature Confirmation Restricted Delivery Domestic Return Receipt November 19, 2024 CLERK TO THE BOARD PHONE: (970)400-4225 FAX: (970) 336-7233 1150 O STREET P. O. BOX 758 GREELEY, CO 80632 Leeward Renewable Energy Development, LLC 6688 North Central Expressway, Suite 500 Dallas, Texas 75206 RE: Release Amendment Number 001 to Irrevocable Standby Letter of Credit #IS000204292U - USR19-0014 Leeward Renewable Energy Development, LLC Hello, Enclosed please find copies of the letter to the insurance company, released Amendment Number 001 to Irrevocable Standby Letter of Credit #IS000204292U, and a copy of the Board of County Commissioner's Resolution, dated October 16, 2024, authorizing the release of said Amendment Number 001 to Irrevocable Standby Letter of Credit, held as warranty collateral in the amount of $300,000.00 for the above referenced case. If you have any questions, please contact me at (970) 400-4212, or email jreid@weld.gov. Respectfully, Jess Reid Deputy Clerk to the Board Enclosure cc: Dawn Anderson and Jazmyn Trujillo -Martinez, Department of Planning Services Max Nader, Department of Planning Services Clerk to the Board File PL2672 Perry L. Buck, Pro-Tem Mike Freeman Scott K. James Kevin D. Ross, Chair Lori Saine BOARD OF COUNTY COMMISSIONERS PASS -AROUND REVIEW PASS -AROUND TITLE: BOCC Agenda Item - Full Release of Warranty Collateral for: Leeward Renewable Energy Development, LLC - USR19-0014 Phase Two — Panorama Wind DEPARTMENT: Planning Services DATE: October 8, 2024 PERSON REQUESTING Jazmyn Trujillo -Martinez Brief description of the problem/issue: The Department of Planning Services received a request from Yvonne Trejo, representative for Leeward Renewable Energy Development, LLC, requesting that the Board of County Commissioners release the currently held warranty collateral for Phase Two — Panorama Wind in the amount of $300,000.00 held in the form of an Amendment to the Original Irrevocable Standby Letter of Credit Number IS000204292U issued by Wells Fargo Bank. The two-year warranty period has concluded, and no further collateral is required to be held. Weld County Planning Services and Public Works Departments performed a site inspection, at the above -mentioned site, and observed the following: • All items on Exhibit A, of the Improvements Agreement According to Policy Regarding Collateral for Improvements Document Tyler #2021-1761, have been completed and are found to be acceptable. What options exist for the Board? (include consequences, impacts, costs, etc. of options): 1. Have this BOCC Hearing item be placed on the next available agenda as part of the Consent Agenda. 2. Have this BOCC Hearing item be placed on the next available agenda as part of the Regular Agenda. 3. Have this BOCC Hearing item not placed on the next available agenda as neither part of the Consent Agenda nor the Regular Agenda. Weld County Collateral List: Leeward Renewable Energy Development, LLC — Phase Two - Panorama Wind, LLC — USR19-0014 PL2672, #2021-1761, Approved 07/07/21, Contract ID 4978) Improvements and Road Maintenance Agreement Irrevocable Standby Letter of Credit #IS000204292U Wells Fargo Bank, N.A., U.S. Trade Services, 794 Davis Street, 2nd Floor, MAC A0283-023, San Leandro, California 94577-6922, On behalf of Panorama Wind, LLC — Expiry Date 11/30/22 — Auto extends Annually unless notified in writing at least 90 days prior $2,000,000.00 Amendment to Irrevocable Standby Letter of Credit #IS000204292U — Wells Fargo Bank, N.A. on Behalf of Panorama Wind, LLC — USR19-0014 (PL2672, #2022-2513) Approved 08/31/2022, Contract ID #6252 - The Current Available Amount is DECREASED BY - $1.700.000.00 $300,000.00 Consequences: • None — The work has been completed and passed the two-year warranty period. Impacts: • None — The work has been completed and passed the two-year warranty period. Costs (Current Fiscal Year / Ongoing or Subsequent Fiscal Years): • Them is no direct cost impact for the County if the Warranty Collateral is released. Recommendation: Option 2. The Departments of Planning Services, Public Works, and the County Attorney's Office are recommending approval of the full release of warranty collateral for Leeward Renewable Energy Development, LLC — USR19-0017 Phase Two — Panorama Wind, and that this item be placed on the next regularly scheduled BOCC Hearing as part of the Regular Agenda. Support Recommendation Schedule Place on BOCC Agenda Work Session Other/Comments: V.6139 ‘18 tr 2024-2738 1 o/t to PLZto-1L Jazmyn Trujillo Martinez From: Sent: To: Subject: Follow Up Flag: Flag Status: i Hi Jazmyn, tart Yvonne Trejo <Yvonne.Trejo@LeewardEnergy.com> Wednesday, October 2, 2024 11:06 AM Jazmyn Trujillo Martinez LRED - End of Warranty Period for USR19-0014 Follow up Flagged Thank you for speaking with me yesterday. This email requests to release the letter of credit with Weld County related to the Improvements and Road Maintenance Agreement for Panorama Wind - USR19- 0014. We have completed the 2 year warranty period and would like to proceed with final inspections and approval from the county. The recorded document # for reference is 4734460. Please let me know if you need any additional information. Thank you, Yvonne Trejo Sr. Asset Manager Leeward Renewable Energy, LLC 811 Louisiana St., Suite 2405, Houston, TX, 77002 Yvonne.Trejo@LeewardEnergy.com D: 832.318.04261M 281.704.7457 leewardenergy.com AtLRE in ;,.f Jazmyn Trujillo Martinez From: Sent: To: Cc: Subject: Amy Mutchie Thursday, October 3, 2024 8:59 AM Jazmyn Trujillo Martinez Nick Marquez; Dawn Anderson RE: LRED - End of Warranty Period for USR19-0014 Hi Jazmyn, All of the reclamation was completed, and we have closed out the ROW permits. Thank you, Amy lMutchie Permitting Coordinator Weld County Public Works (970) 400-3764 amutchi a eldgov.com Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Jazmyn Trujillo Martinez <jtrujillomartinez@weld.gov> Sent: Thursday, October 3, 2024 8:08 AM To: Amy Mutchie <amutchie@weld.gov> Cc: Nick Marquez <nmarquez@weld.gov>; Dawn Anderson <dranderson@weld.gov> Subject: FW: LRED - End of Warranty Period for USR19-0014 Hi Amy, Leeward is requesting a final release of their warranty collateral for their Panorama Wind Portion of USR19-0014. This project was similar to Cedar Creek II so I am not sure if a final inspection is required. Let me know your thoughts! Best, Jazmyn Trujillo -Martinez Development Review Weld County Planning Services 1402 North 17th Avenue P.O. Box 758 Greeley, CO 80631 (970) 400-3711 Hello