HomeMy WebLinkAbout20252910.tiff Resolution
Approve Cancellation and Release of Project Collateral for Improvements for Minor
Subdivision Final Plan, MINF19-0001 — Cimarron Land Company, 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, by Resolution dated the 4th day of September, 2019, the Board approved the
application of Cimarron Land Company, LLC, 200 1st Street, Eaton, Colorado 80615, for
Minor Subdivision Final Plan, MINF19-0001, for four (4) lots zoned for 1-3 Industrial uses
along with one (1) outlot to be utilized for drainage purposes on the following described
real estate, to wit:
Lot B Recorded Exemption, RECX15-0069; being part of the NE1/4 of
Section 32, Township 6 North, Range 65 West of the 6th P.M., Weld County,
Colorado
Whereas, on February 19, 2020, the Board of County Commissioners of Weld County,
Colorado, approved an Improvements Agreement According to Policy Regarding
Collateral for improvements for Minor Subdivision Final Plan, MINF19-0001, between the
County of Weld, State of Colorado, by and through the Board of County Commissioners
of Weld County, and Cimarron Land Company, LLC, with further terms and conditions
being as stated in said agreement, and accept Irrevocable Standby Letter of Credit
No. 1301, drawn on the Farmers Bank, 119 1st Street, Ault, Colorado 80610, in the
amount of$378,939.60, and
Whereas, staff from the Weld County Departments of Public Works and Planning
Services conducted a visual inspection and recommend release of said collateral, and
Whereas, 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 Irrevocable Standby Letter of Credit No. 1301, drawn on the
Farmers Bank, in the amount of $378,939.60, 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.
5063757 Pages: 1 of 2 PL(aE/HNbn/oa/TTK/KR) 2025-2910
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Carly Koppes, Clerk and Recorder, Weld County , CO
11111 Nr1liAl P vIiLlir'l ,M LIIIPI W 111111
Cancellation and Release of Project Collateral for MINF19-0001 — Cimarron Land
Company, LLC
Page 2
The Board of County Commissioners of Weld County, Colorado, approved the above
and foregoing Resolution, on motion duly made and seconded, by the following vote on
the 27th day of October, A.D., 2025:
Perry L. Buck, Chair: Aye ,,r►+� .,
Scott K. James, Pro-Tern: Aye Ie �. I /1`''9t
Jason S. Maxey: Excused / ` 1►
Lynette Pe ler: Excused14.1
Kevin D. Ross: Aye
%
Approved as to Form: 0? .j
Bruce Barker, County Attorney
Attest:
Esther E. Gesick, Clerk to the Board
5063757 Pages: 2 of 2 2025-2910
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Carly Koppes, Clerk and Recorder, Weld County , CO
11111 I rAINIIa4I:IKh4IR1101 Vti10,11114l1M Lk 11111
MEMORANDUM
TO: Clerk to the Board 1 861 �,
\ 4 ♦ :1 4',\ , DATE: October 13,2025
1.2b,_A 2,1-1-!!! ill, -
N' ' r JrFROM: Jazmyn Trujillo-Martinez, Planning Services Dept.
�' GOUTY
IN SUBJECT: BOCC Agenda Item—Approve Full Release of
Collateral For:
Cimarron Land Company,LLC—MINF19-0001
Request to Approve Full Release of Collateral:
The Department of Planning Services received a request from Roger Schulz, requesting that the Board of
County Commissioners release the currently held collateral for Cimarron Land Company,LLC in the amount
of$378,939.60.Collateral was provided in the form of Irrevocable Standby Letter of Credit No. 1301 issued
by Farmers Bank.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 C,of the Improvements Agreement According to Policy Regarding Collateral
for Improvements Document Tyler #2020-0602, have been completed and are found to be
acceptable.
Weld County Collateral List:
Cimarron Land Company, LLC
MINF19-0001 (PL2704,#2020-0602)Improvements and Road Maintenance Agreement,Approved
2/19/20,Contract ID 3429
Project Collateral, Irrevocable Standby Letter of Credit No. 1301,dated 2/7/20, $378,939.60,Famers Bank
Recommendation:
The Departments of Planning Services,Public Works,and the County Attorney's Office are recommending
approval of the full release of collateral for Cimarron Land Company, LLC—MINF19-0001, and that this
item be placed on the next regularly scheduled BOCC Hearing,as part of the Regular Agenda.
cc: Dawn Anderson,Planning Services
2025-2910
10/2. 1 p La1ot-k
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