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_timeThe Town Board approves reduction of performance bonds for the Tradition at Red Hook subdivision project based on Town Engineer certification of completed improvements: Section 1 bond reduced to $49,335, Sections 2 and 3 bond reduced to $102,982, and releases the DCWWA Performance Bonds for sewer and water infrastructure now assumed by Dutchess County Water and Wastewater Authority.
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) (the Project) delivered to the Town Clerk a performance bond in the amount of $373,720.00 regarding Section 1 of the Hoffman TND Project, 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 of the Project 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 (collectively the DCWWA Performance Bonds)
  • WHEREAS, as a condition of Resolution #83 of 2019 adopted August 1, 2019, the developer of the Project 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, and that an estimate of the uncompleted improvements in Section 1 is $49,335, and an estimate of the uncompleted improvements in Section 2 and 3 is $102,982.00, and that it is recommended that the bond amounts required for Section 1, 2 and 3 be reduced accordingly
  • 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 reduction of performance bonds for Tradition at Red Hook Sections 1, 2, and 3 based on completed improvements.
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) (the Project) delivered to the Town Clerk a performance bond in the amount of $373,720.00 regarding Section 1 of the Hoffman TND Project, 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 of the Project 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 (collectively the DCWWA Performance Bonds)
  • WHEREAS, as a condition of Resolution #83 of 2019 adopted August 1, 2019, the developer of the Project 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, and that an estimate of the uncompleted improvements in Section 1 is $49,335, and an estimate of the uncompleted improvements in Section 2 and 3 is $102,982.00, and that it is recommended that the bond amounts required for Section 1, 2 and 3 be reduced accordingly
  • 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_red_hook_performance_bond