11/8/1994 - Laserfiche WebLink

Home Browse Search

0 p l ROOK uW PAI`4. �9!3 ANALYSIS: The warranty and maintenance agreement is to warranty the performance -of the required improvements. "Although the Colonial Gardens Phase II warranty period expired October 8, 1994, the letter of credit remains in effect until November 12-, 1994. This - extended period was put in the letter of credit in order to'give the developer time to fix any construction problems identified by county staff at the end of the warranty and maintenance period. During a recent inspection, public works staff determined that certain drainage problems exist within the subdivision, and the developer is currently working with the public works department to solve the problem. However, if the drainage problem is not fixed by November 12, 1994, the county will have only an unsecured pledge from the developer to correct the problem. Therefore, the county - engineer has recommended pulling $5,000 of the total letter of - credit amount to guarantee that the necessary corrections will be made to the subdivision's drainage improvements (see attachment #2) . -_ Staff is seeking authorization to draw upon the existing letter of credit in the amount of the $5,000, as recommended by the County Engineer, to guarantee correction of the referenced drainage problems. If, prior to November S. 1994, the developer completes the necessary corrections as approved by the public works - department, or if the developer posts new security in the amount of $5,000 and proposes to extend the warranty and maintenance agreement, then staff will not need to draw upon the letter of credit. If the letter of credit is drawn upon, all non -used funds drawn will be returned to the developer once the drainage corrections are made. RECOMMENDATION: Based on the above analysis, staff recommends that the Board of County Commissioners: 1. Authorize- the chairman to sign the attached resolution, authorizing staff to draw upon the letter of credit, if necessary; and 2. Authorize an extension of the warranty and maintenance agreement and authorize staff to accept new security, in the event that the applicant proposes such an extension and submits new security prior to November 8, 1994. Planning Director Stan Boling explained that when final approval is granted to a subdivision where road and drainage improvements were dedicated to the County, there is a one year maintenance period and security is posted to make sure that all the required improvements perform --properly. During the required maintenance period for this particular subdivision, the County engineering staff found some problems with the drainage system. The Letter of Credit posted to secure the proper performance 26 November 8, 1994 M M M