SUBJECT: Consent
Title
A Resolution of the Board of Trustees of the Town of Erie Approving the Second Amendment to Development Agreement for Colliers Hill Subdivision Filing No. 4G
Body
DEPARTMENT: Parks & Recreation
Department
PRESENTER: Luke Bolinger, Development & Neighborhood Services Division Manager
First Name, Last Name, Title
POLICY ISSUES:
The resolution extends a deadline for park construction.
STAFF RECOMMENDATION:
Recommendation
Approve the resolution authorizing the second amendment to the development agreement for Colliers Hill subdivision No. 4G
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
On March 9, 2021 the Town of Erie, Daybreak Recovery Acquisition LLC., and Colliers Hill Metropolitan District No. 3 entered into a Development Agreement for Colliers Hill Subdivision, Filing 4G. This agreement was recorded with the Weld County Clerk and Recorder on March 10, 2021. A first amendment to the agreement was subsequently recorded with the Weld County Clerk and Recorder on May 18, 2022. The first amendment obligated surety requirements from the Developer for construction of a neighborhood park and a deadline of Nov. 30, 2023 for the park construction to be completed. Due to weather and other issues, the developer will not finish construction of the park by this deadline, resulting in the need for an additional amendment to the agreement extending the date.
According to a memo the developer sent to staff on Sept. 19, 2023, the project encountered several delays due to weather, which impacted not only park construction, but construction of an adjacent irrigation pond that will serve as irrigation for the park. Early grading issues and adjacent amenity construction also caused delays. The developer’s contractor will continue constructing amenities as weather allows throughout winter and spring but will not be able to install final landscaping until spring of 2024.
The proposed amendment extends the park construction deadline to July 31, 2024 and upon completion, will be maintained by the Colliers Hill Metropolitan District until the end of two year warranty period when the Town will take over ownership and maintenance.
BOARD PRIORITY(S) ADDRESSED:
ü Prosperous Economy
ü Effective Governance
ü Fiscally Responsible
ATTACHMENT(S):
1. Resolution No. 23-127
2. Second Amendment to Development Agreement (Colliers Hill Subdivision, Filing 4G)
3. Development Agreement (Colliers Hill Subdivision, Filing 4G)
4. First Amendment to Development Agreement (Colliers Hill Subdivision, Filing 4G)
5. Memo from Developer