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Weld County accepts warranty collateral and partially releases project collateral for two development projects
Summary
The board accepted warranty collateral for a five‑lot minor subdivision and accepted warranty collateral as a partial release for a site‑plan amendment, retaining both for two‑year warranty periods.
Weld County commissioners on Monday approved two planning-related actions: acceptance of warranty collateral for a five-lot minor subdivision and a partial release of project collateral with acceptance of warranty collateral for a site-plan amendment.
Jasmine Teru Martinez of planning services asked the board to accept warranty collateral of $138,600 for minor subdivision MINF24-0001 (applicants Daniel and Deborah Baker). "We respectfully request that the board accept warranty collateral in the amount of $138,600 procured in the form of a cashier's check, check number 1714611, issued by the Credit Union of Colorado," Martinez said. The collateral is to be held for the duration of the two-year warranty period; the presenter said required improvements have been completed.
On a related item, planning staff asked the board to approve a partial release of project collateral for Henry Frank LLC and to accept warranty collateral in the amount of $16,358.53 in the form of a bond rider attached to original performance bond number 7445737, guaranteed by Old Republic Surety. That warranty collateral will be retained for the two-year warranty period.
Both motions were moved and seconded and approved by voice vote. The transcript does not record individual roll-call vote tallies. After the planning items the board called for public comment; no speakers came forward and the meeting was adjourned.
