TC Res. No. 2001-06TOWN OF AVON
RESOLUTION NO. 01-06
Series of 2001
A RESOLUTION APPROVING A REDUCED SECURITY DEPOSIT FOR PUBLIC
IMPROVEMENTS TO BE INSTALLED AND CONSTRUCTED IN ACCORDANCE WITH
SUBDIVISION IMPROVEMENTS AGREEMENT FOR AMENDED PLAT OF CHAPEL
SQUARE SUBDIVISION
WHEREAS, the Town of Avon and Chapel Square, LLC, a Colorado Limited Liability Company.
entered into a SUBDIVISION IMPROVEMENTS AGREEMENT in connection with the approval
of the Amended Plat of Chapel Square Subdivision; and
WHEREAS, said Agreement established certain public and private improvements to be constructed
in conjunction with said subdivision; and
WHEREAS, said Agreement established requirements for the provision of security deposits to
assure completion of the improvements and provide for warranty work in accordance with the
Agreement and the subsequent partial release of the security deposits upon satisfactory completion
of portions of the improvements in conformance with all standards, drawings and specifications as
submitted to and previously approved by the Town; and
WHEREAS, portions of the required work have been satisfactorily completed in accordance with
the approved plans and specifications, as certified by a professional engineer.
NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
AVON, that:
1. Portions of the improvements with an equivalent value of $ 187,679.00 have been satisfactorily
completed in conformance with the approved plans and specifications as of January 4, 2001.
2. Effective February 28, 2001, the security deposit may be reduced to $ 215,000.00 which is equal
to at least 110 percent of the cost of the remaining improvements to completed in conformance with
the approved plans and specifications.
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ADOPTED THIS 27 DAY OF February '2001.
TOWN COUNCIL
TOWN OF AVON, COLORADO
J Yoder, a
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Jaduary 4, 2001
Palmos Development
Donald G. Schaper, Controller
2775 his Avenue
Boulder, CO 80304
Re: Chapel Square Development [Chapel Place Roadway and Chapel Alley
Dear Mr. Schaper:
The following comments are in response to your letter of December 14, 2000 regarding
our list of corrective work identified during a walk through of the Chapel Place and
' Chapel Alley improvements on Thursday, October 19, 2000.
1. The trash enclosure at northeasterly corner of Building D must be
removed from Chapel Place right-of-way and the area, restored with landscaping
appropriate for. the location.
Response:. Work related to this item is complete.
2. Settlement damage to drainage structure and parking area at;southeasterly
comer of City Market-parking lot that occurred prior to construction of
satisfactory retaining wall must be repaired.
Response: This item has not been completed but will be treated as a civil
matter between private parties and is therefore deleted from the list of required
corrections.
3. - Construct traffic control island at easterly side of entrdnoe to Chapel Place
from driveway between City Market and Building D, per approved site plan.
Response: Traffic island curb &.gutter has been-poured. -Remaining work
includes backfill and landscaping of island.
Estimated Cost: $ 3000
4. Reconstruct Chapel Place and undergroun&parking entrance to Building
C to lines and grades as shown on approved site plans. If Building C entrance has
been modified from that indicated on the approved site, (Subdivision) plan, please
submit revised plans for review and approval prior to reconstruction
Response: This work has not been completed and no verified cost estimate for
Office Box 975 correcting this item has been provided. Town contribution for useable Chapel
Post
Pos Benchmark Road Place right-of-way $ 200,000.
400 4von, Colorado 81620 Estimated Cam: $150,000
970-748-4000
970-949-9139 Fax
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5. Asphalt core sample reports indicate that asphalt gradation did not meet
project specifications. This must be resolved prior to final acceptance of the
improvements.
Response: Satisfactory documentation has been submitted to resolve this
issue.
6. . The fence between Chapel Square and The Village at Avon has been
removed. This must be replaced or written authorization from The Village at
Avon consenting to the removal .of this fence must be provided:
Responses This. item has not been'corrected but copy of partially executed
document indicating this work will be completed by April 30, 2001 was submitted
with letter.
Estimated Cost: $10,000
7.- The curb and gutter along Chapel Alley must. be backfilled to provide
positive drainage and eliminate potential water ponding.
Response: This item has not been corrected: Impractical to complete until
snow has melted and ground has thawed.
Estimated Cost: $ 2,000
8.. 'Provide written verification, signed and sealed by Registered Professional
Engineer, that all drainage facilities. were-installed and constructed in
conformance with the approved site plans and drainage report. Any variance
from the approved plans and Drainage report should, be noted on as-built plans,
signed and sealed by the engineer, and submitted with the verification.
Response: As-Built Drawing and verification statement submitted by Inter- .
Mountain Engineering, Ltd:, satisfactorily addresses this issue.
9. It was also noted during the walk through that two different, heights of
streetscape lighting poles were installed along Chapel Place. Consideration
should be given to replacing the taller poles to maintain consistency throughout
the project and with the remainder ofthe Town Streetscape lighting.
Response: Verbal _commerits were relayed regarding this issue, but we have
been unable to locate any written correspondence related to this issue.
Subsequently, this item will be deleted from the list.-
We have been advised by the Department of Community. Development that no final
Certificate of Occupancy has been issued for the first habitable structure as it relates to
the, "Addendum to Agreement for Dedication and Maintenance of Public Roadway."
Subsequently, the temus of the Agreement for release of the. final $50,000 portion of the
$200,000 total payment to be made by the Town have not been complied with at this
time.
It is also my understanding that Chapel Square LLC will issue a $50,000 letter of credit
to be held by the Town as a security deposit for completion of Benchmark Road
Improvements
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Based on the above conditions we are prepared to recommend Town Council authorize a .
reduction in security requirements as follows:
Existing Letter or Credit $ 402,679.00
Incomplete or Unsatisfactory hems $ 165,000.00
Benchmark Road Improvements Deposit $ 50,000.00
Revised Letter of Credit Amount $ 215,000.00 ,
Reduction to Existing Letter of Credit $ 187,679.00
Release of the final $50,000 payment per the Addendum to Agreement for Dedication
and Maintenance of Public Roadway will be recommended upon completion of all above
items and issuance of the first. Final Certificate of Occupancy fora habitable structune.as .
it relates to the, "Addendum to Agreement for Dedication and Maintenance of Public
Roadway."
If you have any questions' regarding any of the above, do not hesitate to contact me at
970-74&4109-
Sincerely,
Norman Wood, PE
Town Engineer
Cc: Bill Elting
Burt Levin, Esq.
Larry Brooks
Mike Matzko
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Memo
To: Honorable Mayor and Town Council
Thru: Bill Efting, Town Manager
From: Norm Wood, Town Engineer
ate: February 21, 2001
Re: Chapel Square Subdivision Improvements Agreement
Resolution No. 01-06, Series of 2001, Reducing Required Security Deposit
summaly: Chapel Square has satisfactorily completed a significant
portion of the public improvements identified in the Subdivision Improvements
Agreement. The satisfactory completion of these portions has been adequately
documented by field inspections and the submittal of As-Built Plans and Certifications by
registered professional engineers as stipulated in the Subdivision Improvements
Agreement. The remaining and unsatisfactory work is identified in the attached letter of
January 4, 2001, to Palmos Development. This letter finther indicates that a
recommendation will be made to reduce the required letter of credit by $ 187,679.00, from
$ 402,679.00 to $ 215,000.00. Approval of attached Resolution No. 01-06, Series of
2001 is recommended to allow this corresponding reduction.
Recommendations: Approve Resolution No. 01-06, Series of 2001, a
Resolution Approving a Reduced Security Deposit for Public Improvements to be
Installed and Constructed in Accordance with Subdivision Improvements Agreement for
Amended Plat Chapel Square Subdivision.
Proposed Motion: I move to approve Resolution No. 01-06, Series of 2001, A
Resolution Approving a Reduced Security Deposit for Public Improvements to be
Installed and Constructed in Accordance with Subdivision Improvements Agreement for
Amended Plat of Chapel Square Subdivision.
Town Manager Comments:
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