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MINUTES OF A REGULAR BOARD OF COUNTY <br />COMMISSIONERS MEETING <br />GRAND COUNTY, COLORADO <br />James L. Newberry - Commissioner District 1; Nancy Stuart - Chairman - Commissioner District 2; Gary <br />Bumgarner, - Commissioner District 3; Lurline Underbrink Curran, County Manager; Anthony J. DiCola, <br />County Attorney; and Sara L. Rosene, County Clerk and Recorder. <br />May 19, 2009 <br />The Regular Board of County Commissioners' Meeting was called to order at 8:30 a.m. <br />Department heads present for the Board Business portion of the meeting were Ken Haynes, Kris Manguso, <br />Scott Berger, Christina Whitmer, Tom Weydert, and Scott Penson. <br />Board Business <br />County Attorney DiCola stated that he went to the Pueblo Bank and Trust and met with Charlotte Sellers with <br />regard to Eagle Ridge at the Summit. Ms. Sellers is at the Board meeting to discuss the property and the Letter <br />of Credit. She stated that the property has been cleaned up and the Bank is asking that the Letter of Credit be <br />renewed for a short period of time so the developer can do what they need to do to clean up the property. Mr. <br />DiCola stated that he believes the developer is applying for preliminary acceptance. During his meeting with <br />Ms. Sellers, Mr. DiCola suggested that Ms. Sellers come before the Board today to discuss the Letter of Credit. <br />Ms. Sellers stated that she toured the site this morning and has confirmed that the property has been cleaned up. <br />Ms. Manguso stated that she checked out the property yesterday and it has been cleaned up. <br />Chairman Stuart stated that the developers did not listen to County staff with regard to cleaning up the property. <br />They did, apparently, listen to the Bank. <br />Ms. Sellers stated that she "inherited" this loan and the problems at the site came to her attention last week. She <br />contacted the borrower to let them know that the condition of the property was unacceptable. Ms. Sellers asked <br />for a 60-day extension of the Letter of Credit because she feels that the Bank has good communications with the <br />borrower now. The borrower intends to get things taken care of and the necessary items into the County <br />because they have a deadline for something they have planned. Ms. Sellers reported that the borrower is serious <br />about finishing the project. At the end of the 60 days, the Bank will have a better idea of what the Developer is <br />doing. <br />Ms. Manguso stated that when the current work is done, the Developer will be at preliminary acceptance of <br />Phase 3. The developer has requested preliminary acceptance, but part of the problem was the entrance to the <br />property. The revegitation looks done and the paving is nearly done. <br />Mr. DiCola stated that the County requires that items need to be completed or a new long-term Letter of Credit <br />be in place to be warranty security in six weeks. The developer can tender the County a new Letter of Credit <br />that expires July 21, 2009. The County needs a new Letter in place around the first part of July. <br />Ms. Manguso stated that it appears that the buildings are too tall. The County Survey will check on the height <br />of the buildings this week. <br />Mr. DiCola stated that he needs a motion to rescind the Resolution No. 2009-5-8 which is a Resolution directing <br />the County Attorney to draft the Letter of Credit. <br />Commissioner Newberry moved to rescind Resolution No. 2009-5-8. <br />The motion passed unanimously. <br />Mr. DiCola stated that he would like a motion to accept the Amendment to the Letter of Credit extending the <br />expiration date to July 21, 2009 with the caveat that the new Letter of Credit be in place for the warranty <br />security and/or any uncompleted improvements on or before July 7, 2009.