HomeMy WebLinkAboutBonding, Signing, Recording Final Plat0�1-4 CITY OF
4crlG�1l-YI�y
IDAHO
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%REASURE V N-�E'� SIgCE
1903
MAYOR
Tammy de Weerd
CITY COUNCIL MEMBERS
Keith Bird
Joseph W. Borton
Charles M. Rountree
Shaun Wardl=e"
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 28, 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 # 4
for Packard Estate Development, LLC
After a site inspection and review of Redfeather Subdivision # 4 by the
Planning Department and the Public Works Department, it has been
determined to release the original Letter of Credit of $292,693.84 to you
for the completed site improvements of sewer, water, street lights,
landscaping, pathways, fencing and pressurized irrigation. Please use
this letter as authorization for D. L. Evans Bank to release the Irrevocable
Letter of Credit No. 1157.
If you have any questions please contact me. Thank you for your
cooperation.
Sincerely
William G. Berg, Jr.
City Clerk
Enclosure
CITY FALL 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 8848119
Printed on recycled paper
D. L. Evans Bank
"Idaho's Hometown Community Bank Since 1904"
IRREVOCABLE DOCUMENTARY STANDBY LETTER OF CREDIT
NUMBER:_ LOC # 1157
DATE: October 11, 2005
APPLICANT BENEFICIARY
Packard Estates Development, LLC Meridian City Building Department
62-23N. Discovery Way, Suite 100 660 East Watertower, Suite 150
Boise, ID 83713 Meridian, ID 83642
'RE: Red Feather No. 4
DATE AND PLACE OF EXPIRE: October 5, 2006
At the counters of: D.L. Evans Bank, 3845 West State St., Boise, ID
83703
AMOUNT: $292,693.84
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 Building Department
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:st
Operations Center 127 East 11th P.O. Box 1188 Burley, ID 83318
208-678-2552 Fax 208-678-2028 Express Banking 1-888-873-9777
SURETY SPREADSHEET
Project Name:
Redfeather #4
Date Compiled:
11/2/2005
Letter of Credit/Bond No.:
1157
Issued By:
DL Evans Bank
Expiration Date:
10/5/2006
Check No.:
Party Responsible
Date Signed Off/
Item
Unfinished
Partial
Surety
For Sign -Off
Person Comments
Sanitary Sewer -internal
$7,725.00
-$3,862.50
$3,862.50
Public Works
2/7/06 DH
SanitarySewer-offsite
$0.00
$0.00
Water -internal
$61,650.25
-$30,825.13
$30,$25.13
Public Works
2/7/06 DH
Water- Offsite
$0.00
$0.00
Public Works
Street Lights
$17,851.00
$1,785.10
$19,636.10
Building
12/12/05 HW
Landscaping
$74,061.00
$7,406.10
$81,467.10
PZ
8/18/06 CH
Path _
$11,300.00
$1,130.00
$12,430.00
PZ
8/18/06 CH
Fencing
$63,435.20
$6,343.52
$69,778.72
PZ
2/8/06 CH
g —
$0.00
$0.00
PZ
Pressurized Irrigation--__
903.90
$6,790.39
$74,694.29
NMID
2/7/06 DH
Gravity Irrigation
$0 00
$0.00
NMID
Other:
$0.00
$0.00
PW
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
TOTAL:
$303,926.35
-$11,232.52
$292,693.84
authorized
reduction
$198,796 74 5/31/06 kg
BALANCE TO REMAIN:
$93,897.10
8/21/06 READY TO RELEASE IN FULL KG
Page 1 of 1
Will Berg
From: Karie Glenn
Sent: Monday, August 21, 2006 1:43 PM
To: Will Berg
Subject: Redfeather #4 --LOC RELEASE
Attachments: Redfeather #4.xls
attached detail sheet - ready to be released in full.
8/21/2006
Page 1 of 1
Will Berg
From: C. Caleb Hood
Sent: Friday, August 18, 2006 3:04 PM
To: Karie Glenn; Mindi Smith; Brent Bjornson; Will Berg; Reta Cunningham
Cc: craigg@johnlscottrealestate.com
Subject: Redfeather #4
The required landscaping, fencing and pathways have been installed for the above-mentioned phase
of Redfeather. As far as the Planning Department is concerned, occupancy may be issued in this
phase of the development, and any surety the City is holding for landscaping, fencing, or other P&Z
required improvements may be released. Please call or e-mail with any questions. Thanks,
C. Caleb Hood
Current Planning Manager
Meridian Planning Department
660 E. Watertower Lane
Meridian, ID 83642
208.884.5533
208.888.6854 (fax)
Vision without action is a daydream.
Action without vision is a nightmare.
8/19/2006
Memo
To:
Will Berg
From:
Lenard A Grady, P.E.
CC:
File, Karie, P & Z Staff
Date:
10/31/05
Re:
Redfeather Estates #4
RECEIVED
NOV -1 2005
City of Meridian
City Clerk Office
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. 1157 (DL Evans Bank — dated 10/11/05) for
$292,693.84. This represents surety for items, and in amounts, listed on the attached
spreadsheet.
Please call Shari w/ Engineering Solutions at 938-0941 when the plat is ready to be picked
up. Please call me if you have any questions.
Thank you.
From the desk of.. .
Lenard A Grady, P.E.
City Engineer
Meridian Public Works Department
660 E. Watertower Lane, Suite 200
Meridian, Idaho 83642
(208)898-5500
Fax: (208) 898-9551
• Page 1 gradylkmerdiancity.or¢
IRREVOCABLE DOCUMENTARY STANDBY LETTER OF CREDIT
NUMBER: LOC # 1157
DATE: October 11, 2005
APPLICANT BENEFICIARY
Packard Estates Development, LLC Meridian City Building Department
6223 N. Discovery Way, Suite 100 660 East Watertower, Suite 150
Boise, ID 83713 Meridian, ID 83642
RE: Red Feather No. 4
DATE AND PLACE OF EXPIRE: October 5, 2006
At the counters of: D.L. Evans Bank, 3845 West State St., Boise, ID
83703
AMOUNT: $292,693.84
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
Development, LLC has failed to
agreement with the Meridian Cit
unquote.
3. Partial drawings are permitted.
drawing, the original Letter of
endorsement of the amount paid.
stating quote: Packard
honor its contractual
y Buildinq Department
Estate
In the event of a partial
Credit must be returned for
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:st
Operations Center 127 East 11th P.O. Box 1188 Burley, ID 83318
208-678-2552 Fax 208-678-2028 Express Banking 1-888-873-9777
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