HomeMy WebLinkAboutBonding, Signing, Recording Final PlatCITY OF
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�ER TREASURE VASINCE
1903
MAYOR
Tammy de Weerd
CITY COUNCIL MEMBERS
Keith Bird
Joseph W. Borton
Charles M. Rountree
Shaun Wardle
CITY DEPARTMENTS
City Attorney/HR
703 Main Street
898-5506 (City Attorney)
898-5503 (HR)
Fax 884-8723
Fire
540 E. Franklin Road
888-1234/fax 895-0390
Parks & Recreation
11 W. Bower Street
888-3579/fax 898-5501
Planning
660 E. Watertower Lane
Suite 202
884-5533/fax 888-6844
Police
1401 E. Watertower Lane
888-6678/fax 846-7366
Public Works
660 E. Watertower Lane
Suite 200
898-5500/fax 895-9551
- Building
660 E. Watertower Lane
Suite 150
887-2211/fax 887-1297
- Wastewater
3401 N. Ten Mile Road
888-2191/fax 884-0744
- Water
2235 N.W. 8th Street
888-5242 / fax 884-1159
August 23, 2006
Ms. Brenda Sanford
D. L. Evans Bank
397 North Overland Road
P.O. Box 1188
Burley, ID 83318
208-678-8615 fax 208-678-9093
Re: Return Letter of Credit for Redfeather Subdivision # 2
for Packard Estate Development, LLC
After a site inspection and review of Redfeather Subdivision # 2 by the
Planning Department and the Public Works Department, it has been
determined to release the original Letter of Credit of $978,871.69 to you
for the completed site improvements of sewer, water, street lights,
landscaping, pathway, fencing and pump station. Please use this letter as
authorization for D. L. Evans Bank to release the Irrevocable Letter of
Credit No. 1137.
If you have any questions please contact me. Thank you for your
cooperation.
Sincerely
William G. Berg, Jr.
City Clerk
Enclosure
CITY HALL 33 EAST IDAHO AVENUE MERIDIAN, IDAHO 83642 (208) 888-4433
CITY CLERK— FAX 888-4218 FINANCE & UTILITY BILLING —FAX 887-4813 MAYOR'S OFFICE —FAX 884-8119
Printed on recycled paper
IRREVOCABLE DOCUMENTARY STANDBY LETTER OF CREDIT
NUMBER: LOC # 1137
DATE: March 24, 2005
APPLICANT BENEFICIARY
Packard Estates Development, LLC Meridian City Public Works
6223 N. Discovery Way, Suite 120 660 E. Watertower Lane
Boise, ID 83706 Meridian, ID 83642
RE: Red Feather No. 2
DATE AND PLACE OF EXPIRE: March 24, 2006
At the counters of: D.L. Evans Bank, 3845 West State St., Boise, ID
83703
AMOUNT: $978,871.69
Credit available with us by payment of draft(s) drawn at sight on
D. L. Evans Bank, Boise, Idaho bearing this letter of credit number,
and accompanied by the following documents detailed herein;
1. The original Letter of Credit.
2. Beneficiary's signed statement stating quote:Packard Estate
Development, LLC has failed to honor its contractual
agreement with the Meridian City Public Works unquote.
3. Partial drawings are permitted. In the event of a partial
drawing, the original Letter of Credit must be returned for
endorsement of the amount paid.
This credit is subject to the Uniform Customs and Practice for
Documentary Credits (1993 revision), International Chamber of
Commerce Document Brochure No. 500.
We engage with drawers, endorsers, and bona fide holders that drafts
drawn in conformance with the terms of this credit will be honored
on presentation to the above drawee.
Sincerely,
D.L. Evans Bank
.L Ste.
Brenda Sanford
Chief Financial Officer
BS: lc
Corporate Office 397 North Overland Ave. P.O. Box 1188 Burley, ID 83318
208-678-8615 Fax 208-678-9093 Express Banking 1-888-873-9777
REQUEST FOR AMENDMENT TO LETTER OF CREDIT
Date: March 22, 2006
RE: Request for Amendment to Letter of Credit # 1137.
Applicant: Packard Estates Development, L.L.C.
Project Name: Redfeather #2
Beneficiary: Meridian City Public Works
Dated: March 24, 2005
Gentlemen:
Please amend the above referenced Letter of Credit to read as
follows:
Reduce dollar amount to $84,046.00 and extend maturity date to
August 24, 2006.
Sincerely,
D. L. Ev. ns an
9ohn V. Evans, III
Executive Vice President
Treasure Valley
JVE:lc
Boise 3845 West State Street Boise, ID 83703
208-342-2226 Fax 208-342-4034 Express Banking 1-888-873-9777
SURETY SPREADSHEET
Project Name:
Date Compiled:
Letter of Credit/Bond No.:
Issued By:
Expiration Date:
Item
Redfeather #2
4/4/2005
1137
DL Evans Bank
3/24/2006
na
Unfinished`
8/24/2006
Partial
Suretv
Party Responsible
For Si n -Off
Date Signed Off/
Person
Comments
Sanitary Sewer -internal
$102,171.40
$10,217.14
$112,388.54
Public Works
11/10/05 LG
hold 2500.00 3/9/06
Sanitary Sewer -offsite
Water -internal
Water- Offsite
Water- Ustick
Water - Eagle
$104,862.80
$10,48-
`$115,349.08
11/10/05 LG
$116,875.50 $11,687.55 $128,563.05 Public Works 11/10/05 LG
hold 2500.00 3/9/06
$115,554.00 $11,555.40 $127,109.40 Public Works 11/10/05 LG
$57,576.25 $5,757.63 $63,333.88 11/10/05 LG
$11,930.40 $1,193.04 $13,123.44 11/10/05 LG
Street Lights
$22,325.00
$2,232.50
$24,557.50
Building
6/16/05 HW
Landscaping
$183,737.00
$18,373.70
$202,110.70
PZ
6/27/06 SA
$79,0466.. ok to reduce to
$79,000
Pathways
$5,200.00
$520.00
$5,720.00
PZ
11/17/05 SA
Fencing
$121,473.00
$12,147.30
$133,620.30
PZ
7/7/05 CH
Tiling
$0.00
$0.00
PZ
Pressurized Irrigation
$0.00
$0.00
NMID
Gravity Irrigation
$0.00
$0.00
NMID
Other:
PI Pump Station
$48,178.00
$4,817.80
$52,995.80
PW
11/10/05 LG
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
TOTAL:
$889,883.35 $88,988.34
authorized reduction
authorized reduction
BALANCE TO REMAIN
$978,871.69
894825.69 3/9/06 KG
$79,046.00 6/27/06 KG
$5,000.00
**existing house to be hooked up before releasing $5,i 00 of
the water and sewer money** per BW 4/4/05 3/9/06 house still not hooked up as required - kg
6/27/06 house still not hooked up as required - kg
3/24/06 received extension kg 7/18/06 house still not completely hooked up as required - kg
8/23/06 RELEASE LOC IN FULL - KG RECEIVED 5,000 CASH SURETY FOR REMAINING ITEM
Page 1 of 1
Will Berg
From:
Karie Glenn
Sent:
Wednesday, August 23, 2006 9:20 AM
To:
Will Berg
Subject: Redfeather #2.loc RELEASE
Attachments: Redfeather #2.xls
attached detail sheet - ready to release in full
Thanks
8/23/2006
SURETY SPREADSHEET
Project Name: Redfeather #2
Date Compiled: 4/412005
Letter of CredittBond No.: 1137
Issued BY: DL Evans Bank
Expiration Date: 31x412906
Check No.: na
Rem Unfinished
8124/2006
Partial
surety
Party Responsible
For Sign -Off
Date Signed Off!
Person
Comments
Sanitary Sewer -internal
$102,171.40
$10,217.14
$112,388.54
Public Works
11/10105 LG
v.' =` ^^ r.'3/
Sanitary Sewer -offsite
Water -internal
Offsite
Water- Ustick
Water -Eagle
$104,862.80
$10,48628
$115,349.08
11110105 LG
}Water-
1
$116,875.50 $11,687.55 $128,563.05 Public Works 11110/05 LG
hold 25W.00 3/h
$115,554.00 $11,555.40 $127,108.40 Public Warks 11110105 LG
$57,57625 $5.757.63 $6;1,333.88 11110105 LG
_
$11,934.40 $1,193.04 $13,123.44 11110105 LG
Sheer Lights
$22,325.00
$2,232.50
$24,557.50
Building
6116106 HW
l.g
$183,737.00
$18,373.70
;202,110.70
PZ
3,16106 pz ok to reduce c-
a7S,04'v.
Pathvreys
$5,200.00
$520.00
$5.720.0X1
PZ
11117/05 SA
Fig
$121,473.0X1
$12,147.30
$133,620.30
PZ
717105 CH
Tiling
$0.00
$0.00
PZ
—
Pressurized Irrigation
$0.00
$0.00
NMID
Gravity Irrigation
$0.00
$0.00
NMID
Other:
PI Pump Station
$48,178.00
$4,817.80
$52,995.80
PW
11110105 LG
$0.00
$0.00
$0.0X1
$0.00
--
$0.00
$0.00
TOTAL:
$889,883.35 $88,868.34
judloraUu- reducsion
BALANCE TO REMAIN
$978,871-69
US4:255.69 3i�ii3o iiv
$84,046.00
j
"existing house to be hooked up before releasing $5,i
the water and sewer money" per BW 4%4/05 319106 house still not hooked up as required - kg
3124106 received extension kg
RECEIVED
MAR 27 =
City of Meridian
City Clerk Office
REQUEST FOR AMENDMENT TO LETTER OF CREDIT
Date: March 22, 2006
RE: Request for Amendment to Letter of Credit # 1137.
Applicant: Packard Estates Development, L.L.C.
Project Name: Redfeather #2
Beneficiary: Meridian City Public Works
Dated: March 24, 2005
Gentlemen:
Please amend the above referenced Letter of Credit to read as
follows:
Reduce dollar amount to $84,046.00 and extend maturity date to
August 24, 2006.
Sincerely,
D.L.Ev ns Bank
ohn V. Evans, III
Executive Vice President
Treasure Valley
JVE:lc
Boise 3845 West State Street Boise, ID 83703
208-342-2226 Fax 208-342-4034 Express Banking 1-888-873-9777
RECEIVE®
APR - 4 20
City of Meridian
City Clerk Officc
Memo
To: Will Berg
From: Brad Watson, P.E.
CC: File, Karie, P & Z Staff
Date: 3/14/2005
Re: Redfeather Sub #2
I have signed the plat for the above project and am forwarding it to you for your signature.
Based on our research of the project files, all conditions imposed by the Public Works
Department and City Council have been met.
I am also forwarding original letter of credit No. 1137 (D.L.Evans Bank— dated 3/24/05) for
$978,871.69. This represents surety for items, and in amounts, listed on the attached
spreadsheet.
Please call Shari Stiles with Engineering Solutions at 938-0980 when the plat is ready to be
picked up. Please call me if you have any questions.
Thank you.
0 Page 1
From the desk of...
Brad Watson, P.E.
City Engineer
Meridian Public Works Department
660 E. Watertower Lane, Suite 200
Meridian, Idaho 83642
(208)898-5500
Fax: (208) 887-1297
watsonb@ci.meridian.id.us
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IRREVOCABLE DOCUMENTARY STANDBY LETTER OF CREDIT
NUMBER: LOC # 1137
DATE: March 24, 2005
APPLICANT BENEFICIARY
Packard Estates Development, LLC Meridian City Public Works
6223 N. Discovery Way, Suite 120 660 E. Watertower Lane
Boise, ID 83706 Meridian, ID 83642
RE: Red Feather No. 2
DATE AND PLACE OF EXPIRE: March 24, 2006
At the counters of: D.L. Evans Bank, 3845 West State St., Boise, ID
83703
AMOUNT: $978,871.69
Credit available with us by payment of draft(s) drawn at sight on
D. L. Evans Bank, Boise, Idaho bearing this letter of credit number,
and accompanied by the following documents detailed herein;
1. The original Letter of Credit.
2. Beneficiary's signed statement stating quote:Packard Estate
Development, LLC has failed to honor its contractual
agreement with the Meridian City Public Works unquote.
3. Partial drawings are permitted. In the event of a partial
drawing, the original Letter of Credit must be returned for
endorsement of the amount paid.
This credit is subject to the Uniform Customs and Practice for
Documentary Credits (1993 revision), International Chamber of
Commerce Document Brochure No. 500.
We engage with drawers, endorsers, and bona fide holders that drafts
drawn in conformance with the terms of this credit will be honored
on presentation to the above drawee.
Sincerely,
D.L. Evans Bank
Brenda Sanford
Chief Financial Officer
BS: lc
Corporate Office 397 North Overland Ave. F.O. Box 1188 Burley, ID 83318
208-678-8615 Fax 208-678-9093 Express Banking 1-888-873-9777