Red Hook WatchIndependent Community Resource

RESOLUTION APPROVING PERFORMANCE BOND REDUCTION FOR TRADITION AT RED HOOK SECTION 6

↑Meetings/Resolutions/30-2024
Activeformal_resolutionongoingThe Town Board approves a reduction of the required performance bond for Tradition at Red Hook Section 6 from $310,747 to $183,131, based on the Town Engineer's report that a reasonable estimate of uncompleted improvements is $183,131, and authorizes the Supervisor, Town Clerk, Town Engineer, and Town Attorney to take necessary steps to implement this reduction.
First seen
2024-04-24
Latest event
2024-04-24
adopted
Expires
—

Resolution text

RESOLVED

  1. Based on the report of the Town Engineer of the completed improvements for the Project, the required bond amount for Section 6 may be reduced to $183,131.
  2. The Project remains subject to all other applicable requirements of Resolution #14 of 2022 as to Section 6 as amended March 22, 2023
  3. The Supervisor, Town Clerk, Town Engineer, and Attorney for the Town may take all steps reasonable and necessary in consultation with the Attorney for the Town to implement the intent of this resolution.
Show preamble — 3 WHEREAS clauses
  • WHEREAS, as a condition of Resolution #14 of 2022 adopted March 23, 2022, the developer of the Tradition at Red Hook, a 102 lot subdivision project to be developed in sections (formerly known as Hoffman TND project) (the "Project") delivered to the Town Clerk a performance bond No. 790187584 in the amount of $431,807 regarding Section 6 of the Project
  • WHEREAS, pursuant to Resolution No. 16 adopted March 22, 2023, the Town Board authorized the reduction of the performance bond to $310,747
  • WHEREAS, by correspondence dated April 22, 2024, the Town Engineer has notified the Town Board that a further portion of the improvements contemplated under Section 6 of the Project have been satisfactorily completed, that a reasonable estimate of the uncompleted improvements in Section 6 is $183,131 and that it is recommended that the bond amount required for Section 6 be reduced accordingly

Lifecycle (1 event)

2024-04-24adoptedvote: unanimous
Approve a reduction in the performance bond for Tradition at Red Hook Section 6 from $310,747 to $183,131 based on completion of improvements.
moved by McKeon · seconded by Solomon
Show text snapshot for this event
Resolved
  1. Based on the report of the Town Engineer of the completed improvements for the Project, the required bond amount for Section 6 may be reduced to $183,131.
  2. The Project remains subject to all other applicable requirements of Resolution #14 of 2022 as to Section 6 as amended March 22, 2023
  3. The Supervisor, Town Clerk, Town Engineer, and Attorney for the Town may take all steps reasonable and necessary in consultation with the Attorney for the Town to implement the intent of this resolution.
Whereas
  • WHEREAS, as a condition of Resolution #14 of 2022 adopted March 23, 2022, the developer of the Tradition at Red Hook, a 102 lot subdivision project to be developed in sections (formerly known as Hoffman TND project) (the "Project") delivered to the Town Clerk a performance bond No. 790187584 in the amount of $431,807 regarding Section 6 of the Project
  • WHEREAS, pursuant to Resolution No. 16 adopted March 22, 2023, the Town Board authorized the reduction of the performance bond to $310,747
  • WHEREAS, by correspondence dated April 22, 2024, the Town Engineer has notified the Town Board that a further portion of the improvements contemplated under Section 6 of the Project have been satisfactorily completed, that a reasonable estimate of the uncompleted improvements in Section 6 is $183,131 and that it is recommended that the bond amount required for Section 6 be reduced accordingly

Supersedes

16-2023
Subject key: tradition_section_6_performance_bond