Red Hook WatchIndependent Community Resource

Resolution Regarding Performance Bond Reduction for Tradition at Red Hook Sections 1, 2 and 3

↑Meetings/Resolutions/61-2020
One-time (complete)formal_resolutionone_timeReduce performance bond requirements for the Tradition at Red Hook subdivision based on completed improvements and authorize release of DCWWA Performance Bonds upon DCWWA assumption of sewer and water system operations.
First seen
2020-12-08
Latest event
2020-12-08
adopted
Expires
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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 1 may be reduced to $49,335.00
  2. Based on the report of the Town Engineer of the completed improvements for the Project, the required bond amount for Sections 2 and 3 may be reduced to $102,982.00
  3. Based on the correspondence from DCWWA, the Town has no objection to the release of the DCWWA Performance Bonds
  4. The Project remains subject to all other applicable requirements of Resolution #60 of 2018 as amended by #83 of 2019 as to Section 1, and all other applicable requirements of Resolution #83 of 2019 as to Sections 2 and 3
  5. The Supervisor, Town Engineer, 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 — 5 WHEREAS clauses
  • WHEREAS, As a condition of Resolution #60 of 2018 adopted September 26, 2018, the developer of the Tradition at Red Hook, a 102 lot subdivision project to be developed in sections (formerly known as Hoffman TND project), delivered to the Town Clerk a performance bond in the amount of $373,720.00 regarding Section 1, which amount was reduced to $54,395 pursuant to Resolution #83 of 2019 adopted August 2, 2019
  • WHEREAS, As a condition of Resolution #60 of 2018 adopted September 26, 2018, the developer delivered to the Town Clerk a counterpart of a dual oblige bond in the amount of $627,140 securing completion of sewer improvements and in the amount of $384,141 securing completion of water improvements pursuant to a Memorandum of Understanding with DCWWA
  • WHEREAS, As a condition of Resolution #83 of 2019 adopted August 1, 2019, the developer delivered to the Town Clerk a performance bond in the amount of $175,868.00 for Sections 2 and 3
  • WHEREAS, By letter dated December 8, 2020, the Town Engineer has notified the Town Board that a portion of the improvements contemplated under Section 1 of the Project have been satisfactorily completed, and a portion of the improvements contemplated under Section 2 and 3 of the Project have been satisfactorily completed, with an estimate of the uncompleted improvements in Section 1 of $49,335 and an estimate of the uncompleted improvements in Section 2 and 3 of $102,982.00
  • WHEREAS, By letter dated November 24, 2020, the DCWWA has determined that the Project has met all conditions of the DCWWA Performance Bonds and the Town Engineer has advised that DCWWA has assumed operation of the sewer and water systems serving any properties in Section 1 which have been issued a certificate of occupancy

Lifecycle (1 event)

2020-12-08adoptedvote: unanimous
Approve performance bond reduction for Tradition at Red Hook Sections 1, 2 and 3.
moved by McKeon · seconded by O'Neill
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 1 may be reduced to $49,335.00
  2. Based on the report of the Town Engineer of the completed improvements for the Project, the required bond amount for Sections 2 and 3 may be reduced to $102,982.00
  3. Based on the correspondence from DCWWA, the Town has no objection to the release of the DCWWA Performance Bonds
  4. The Project remains subject to all other applicable requirements of Resolution #60 of 2018 as amended by #83 of 2019 as to Section 1, and all other applicable requirements of Resolution #83 of 2019 as to Sections 2 and 3
  5. The Supervisor, Town Engineer, 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 #60 of 2018 adopted September 26, 2018, the developer of the Tradition at Red Hook, a 102 lot subdivision project to be developed in sections (formerly known as Hoffman TND project), delivered to the Town Clerk a performance bond in the amount of $373,720.00 regarding Section 1, which amount was reduced to $54,395 pursuant to Resolution #83 of 2019 adopted August 2, 2019
  • WHEREAS, As a condition of Resolution #60 of 2018 adopted September 26, 2018, the developer delivered to the Town Clerk a counterpart of a dual oblige bond in the amount of $627,140 securing completion of sewer improvements and in the amount of $384,141 securing completion of water improvements pursuant to a Memorandum of Understanding with DCWWA
  • WHEREAS, As a condition of Resolution #83 of 2019 adopted August 1, 2019, the developer delivered to the Town Clerk a performance bond in the amount of $175,868.00 for Sections 2 and 3
  • WHEREAS, By letter dated December 8, 2020, the Town Engineer has notified the Town Board that a portion of the improvements contemplated under Section 1 of the Project have been satisfactorily completed, and a portion of the improvements contemplated under Section 2 and 3 of the Project have been satisfactorily completed, with an estimate of the uncompleted improvements in Section 1 of $49,335 and an estimate of the uncompleted improvements in Section 2 and 3 of $102,982.00
  • WHEREAS, By letter dated November 24, 2020, the DCWWA has determined that the Project has met all conditions of the DCWWA Performance Bonds and the Town Engineer has advised that DCWWA has assumed operation of the sewer and water systems serving any properties in Section 1 which have been issued a certificate of occupancy

Supersedes

60-201883-2019
Subject key: tradition_at_red_hook_subdivision