ROUTT COUNTY BOARD OF COUNTY COMMISSIONERS AGENDA COMMUNICATION FORM

Transcription

1 ROUTT COUNTY BOARD OF COUNTY COMMISSIONERS AGENDA COMMUNICATION FORM ITEM DATE: November 24, 2015 ITEM TIME: consent agenda FROM: Alan Goldich, Planning TODAY S DATE: November 18, Windwalker Golf Course Cash Collateral and Security Agreement AGENDA TITLE: 2. Golf Course Special Use Permit (SUP) CHECK ONE THAT APPLIES TO YOUR ITEM: ACTION ITEM DIRECTION INFORMATION I. DESCRIBE THE REQUEST OR ISSUE: 1. The applicant wishes to enter into an agreement for the construction of their recently approved golf course. 2. Signing of the SUP by the Chair. II. RECOMMENDED ACTION: 1. Authorize the Chair to sign the agreement pending the submission of a valid Statement of Authority, the check in the amount on $189,000, and the agreement signed by the applicant. 2. Authorize the Chair to sign the SUP pending the submission of the SUP signed by the applicant. III. DESCRIBE FISCAL IMPACTS (VARIATION TO BUDGET): PROPOSED REVENUE: N/A PROPOSED EXPENDITURE: N/A FUNDING SOURCE: N/A IV. IMPACTS OF A REGIONAL NATURE OR ON OTHER JURISDICTIONS (IDENTIFY ANY COMMUNICATIONS ON THIS ITEM): N/A

2 ROUTT COUNTY BOARD OF COUNTY COMMISSIONERS AGENDA COMMUNICATION FORM V. BACKGROUND INFORMATION: The BCC approved an application for a private golf course in the spring of Condition #19 of the approval required the applicant to furnish a bond, certified check, or bank commitment of credit in favor of Routt County for the construction and revegetation of the golf course. The applicant has decided to submit a check for the required amount. This agreement is meant to lay out the conditions of such agreement and will be recorded in the Clerk and Recorder s office. As of this writing, a valid Statement of Authority, the check, the signed agreement, and the signed SUP had not been submitted. Staff suggests that the BCC authorize the Chair to sign the agreement and the SUP, only after all documentation has been submitted. A copy of the agreement, which has been reviewed by the legal department, is attached. If all required documents are submitted by November 24, a copy of the agreement and SUP will be made available for the Chair to sign. VI. LEGAL ISSUES: N/A VII. CONFLICTS OR ENVIRONMENTAL ISSUES: N/A VIII. SUMMARY AND OTHER OPTIONS: IX. ATTACHMENTS: Cash Security Agreement

3 CASH COLLATERAL AND SECURITY AGREEMENT This Reclamation Cash Collateral and Security Agreement (the "Agreement"), dated as of, 2015, is between Yampa Realty Holdings, LLC ("Permittee"), and Routt County, Colorado, a body corporate and politic, by and through the Board of County Commissioners of the County of Routt ("County"). Recitals A. Permittee is the developer of a golf course (the "Golf Course"), for which Special Use Permit No. PP was approved by County (the "SUP"). B. Condition #19 of the SUP provides: The applicant shall furnish a bond, certified check, or bank commitment of credit in favor of Routt County in an amount of 150% of the cost of construction and revegetation of the site as approved. All construction and revegetation shall be completed by January 1, Such commitment, bond, or check shall be payable to and held by the Board of County Commissioners or its agent. An engineered cost estimate shall be provided for basis of the estimate. C. On or about, Permittee submitted to County a check in the amount of $189, (the "Cash Collateral") in satisfaction of Condition #19 of the SUP. D. County and Permittee intend by this Agreement to set forth the terms and conditions under which County shall hold and, if necessary, apply the Cash Collateral. Terms and Conditions 1. Pledge and Grant of Security Interest. By delivering the Cash Collateral to County, Permittee has pledged the Cash Collateral to County and hereby grants to County a security interest in the Cash Collateral and the proceeds, issues and profits therefrom. Permittee hereby authorizes the County, to file with the Secretary of State, a UCC-1 Financing Statement in the form attached hereto as Exhibit A. 2. Obligations Secured. The Cash Collateral shall secure prompt and timely performance by Permittee of all construction and revegetation requirements under the SUP, which have been estimated as set forth in the letter from Permittee attached hereto as Exhibit B. 3. County's Rights with Respect to the Cash Collateral. County shall have all rights of a secured creditor with respect to the Cash Collateral as granted hereunder or under the Colorado Uniform Commercial Code. Upon the occurrence of any default by Permittee of any of its obligations of construction and revegetation under the SUP which is not cured within any 1

4 applicable cure period, County may apply the Cash Collateral or any portion thereof as is necessary to satisfy Permittee's obligation which is in default. County shall be entitled to hold the Cash Collateral until all of Permittee's obligations under the Agreement have been approved by County, such approval not to be unreasonably withheld. County need not segregate the Cash Collateral from funds of the County and need not pay interest or otherwise account for the profits or interest earned on the Cash Collateral. Within 20 days after County's written approval of all of Permittee's obligations under the SUP, County shall return to Permittee the Cash Collateral or, if any portion has been applied to satisfy Permittee's obligations under the Agreement, the portion remaining, together with a written reconciliation showing the application of any portion of the Cash Collateral. 4. Attorney Fees. In the event either party to this Agreement brings suit to enforce or interpret any portion of this Agreement, the party substantially prevailing in such action shall be entitled to recover all costs incurred in such action, including without limitation reasonable attorney's fees. 5. Choice of Law and Venue. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Colorado without reference to choice of laws rules. The parties agree that venue in any action to enforce or interpret this Agreement shall be in the District Court in the Fourteenth Judicial District for the State of Colorado. 6. Entire Agreement. This Agreement shall be binding on and inure to the benefit of the parties hereto, their respective successors and assigns, and shall not be deemed to be for the benefit of or enforceable by any third party. This Agreement and the SUP constitute the entire agreement between the parties concerning the Cash Collateral and may not be amended except by a written document executed by both parties hereto. Yampa Realty Holdings, LLC STATE OF COLORADO ) )ss. COUNTY OF ROUTT ) By: Spencer Lehv, Vice President and Treasurer The foregoing instrument was acknowledged before me the day of, 2015, by Spencer Lehv, as Vice President and Treasurer of Yampa Realty Holdings, LLC, a Colorado corporation. Witness my hand and official seal. My commission expires. 2

5 Notary Public (or official title) ROUTT COUNTY, COLORADO ATTEST: By: Douglas B. Monger, Chairman Board of County Commissioners Kay Weinland, Routt County Clerk 3

6

7 To: Project Name: Windwalker Ranch Windwalker - Site Reclamation Estimate Contact: Address: Steamboat Springs, CO Phone: Fax: Bid Number: Project Location: Bid Date: 11/5/2015 Item # Item Description Estimated Quantity Unit Unit Price Total Price 1. General Conditions / Lodging 1.00 LS $32, $32, Topsoil Replacement On All Disturbed Areas - 4" Depth 10, CY $2.40 $24, Seeding Disturbed Area With Native Grasses, Including Mulch To Hold Moisture During Initial Growth - Supplemental Irrigation Not Necessary ACRE $2, $61, Reclamation Of Construction Access On RCR LS $2, $2, Site Cleanup 1.00 LS $2, $2, Close Out Construction Permits. Maintain Sediment And Erosion Control Measures For A Sufficient Duration To Reach Site Stabilization (70% Re-growth) And Allow Close Out Of The CDPS Permit 1.00 LS $3, $3, Total Bid Price: $126, Notes: Pricing is for budgetary purposes. ACCEPTED: The above prices, specifications and conditions are satisfactory and are hereby accepted. CONFIRMED: Landscapes Unlimited, LLC Buyer: Signature: Date of Acceptance: Authorized Signature: Estimator: 11/5/2015 2:26:48 PM Page 1 of 1

8 'Areas to be Re-vegetated I ^ Areas to be Top-soiled NOTES: l.the UMIT OF GRADING DISTURBANCE SHAli BE THE 50' SETBACK FROM THE ORDINARY HIGH WATER LINE OF THE VAMPA RIVER AND EXISTING POND. THE 4/1/15 RC HIGH WATER UNE *AS FIELD STAKED BY ROUTT COUNTY PUVNNING ON 4/1/15, -EXISTING ACCESS TO BE IMPROVED TO MEET RDun COUNTY ROAD AND BRIDGE REQ'MTS; SECONDWW CONSTRUCTION ACCESS LEGEND PROPOSED POWD GOLF ALtENirr sup BOUN&WY 50 FT SETBACK FRDH OKCHHWY HIGH WATER LINE EILUEGRASS FAIRWAY BLUECRASS ROUGH [SHEET C-1Q1_^ [PROJECT 42D5,D01A