HomeMy WebLinkAboutSweetridge Apartments2021120108 8/11/20211:02 PM
PGS 25 $133.00 DF $0.00
Electronically Recorded Jefferson County, CO
George P Stern, Clerk and Recorder TD1000 N
SUBDIVISION IMPROVEMENT AGREEMENT
THIS AGREEMENT made this fits of �� Zo 2a (the
"Effective Date") by and between the CITY OF WHEAT RI GE, COLORADO, a home
rule municipal corporation (the "City"), SP Holdings, LLC, a Colorado limited liability
company (the "Lot 1 Owner"), and Sweetridge Apartments, LLC, a Colorado limited
liability company (the "Developer").,The City and Developer are together referred to as
the "Parties."
RFC;ITAI S
A. The Lot 1 Owner and Developer are the owners of certain real property
located in the City of Wheat Ridge, which is more particularly described in Exhibit A
and made a part hereof (the "Property").
B. On June 28, 2021, the City Council of the City of Wheat Ridge, after holding
all required public hearings, approved the final plat for the Property titled Makatura Office
Subdivision First Filing (the "Final Plat"). The Final Plat is recorded with the Jefferson
County Clerk and Recorder at reception number 10, i 11 A copy of the
Final Plat is attached hereto as Exhibit B and incorporated herein.
C. The approvals cited above are contingent upon the express condition that
all duties created by this Agreement be faithfully performed by the Developer.
D. Lot 1 Owner, as current owner of Lot 1 within the Property, is executing this
Agreement for the purpose of complying with the Wheat Ridge Subdivision Regulations
which require that all owners of the Property execute the subdivision improvement
agreement. However, the Parties agree that Lot 1 Owner has no obligations under this
Agreement.
AGREEMENT
NOW, therefore, for and in consideration of the mutual promises and covenants
contained herein, the sufficiency of which are mutually acknowledged, the Parties
hereto agree as follows:
1. Purpose. The purpose of this Agreement is to set forth the terms,
conditions, and fees to be paid by the Developer upon subdivision of the Property. All
conditions contained herein are in addition to any and all requirements of the City of
Wheat Ridge Subdivision Ordinance and Zoning Ordinance, the City of Wheat Ridge
Charter, any and all state statutes, and any other sections of the City of Wheat Ridge
Municipal Code and are not intended to supersede any requirements contained therein.
2. Related City Agreements and Approvals. The Property will be subject to
future review and approval of site plan(s), civil construction documents, right-of-way
permit application(s), and building permit application(s). Through such approvals, the
City will review and approve the final design any development and Public Improvements
related thereto. This Agreement is based on information available at the time of
approval of the Final Plat and shall not constitute approval of the Public Improvement
designs.
3. Fees. The Developer hereby agrees to pay City Development Review
fees to the City for engineering, hydrological, surveying, legal, and other services
rendered in connection with the review of the subdivision of the Property.
4. Parkland dedication fee -in lieu. Fees in lieu of land dedication shall be
calculated pursuant to the formula in Section 26-413 in the amount of $2,021.62 per
additional dwelling unit, due at time of building permit for any residential construction on
Lot 2. This fee is subject to change by City Council resolution.
5. Title Policy. Prior to recording of the Final Plat, a title commitment for all
those portions of the Property, as well as any other interests in real property
(easements, etc.) to be reserved for public purposes or dedicated to the City shall be
provided to the City. The title commitment shall show that all such property is or shall
be, subsequent to the execution and recording of this Agreement, free and clear of all
liens and encumbrances (other than real estate taxes which are not yet due and
payable) which would make the dedication or reservation unacceptable as the City
determines in its reasonable discretion. The City, in its sole discretion, may accept any
dedication regardless of encumbrances. The title policy evidenced by the title
commitment shall be provided within thirty (30) days after the recording of this
Agreement, in an amount equal to the fair market value of the property so dedicated or
reserved.
6. Breach by the Developer; the City's Remedies. In the event of a breach of
any of the terms and conditions of this Agreement by the Developer, the City Council
shall be notified immediately and the City may take such action as permitted and/or
authorized by law, this Agreement, or the ordinances and Charter of the City as the City
deems necessary to protect the public health, safety and welfare; to protect lot buyers
and builders; and to protect the citizens of the City from hardship and undue risk.
These remedies include, but are not limited to:
(a) The refusal to issue any building permit or certificate of occupancy;
(b) The revocation of any building permit previously issued under which
construction directly related to such building permit has not commenced,
except a building permit previously issued to a third party,
(c) A demand that the security given for the completion of the Public
Improvements be paid or honored, or
(d) Any other remedy available at law or in equity.
Unless necessary to protect the immediate health, safety and welfare of the City or to
protect the City's interest with regard to security given for the completion of the Public
Improvements, the City shall provide the Developer thirty (30) days written notice of its
oil
intent to take any action under this paragraph during which thirty day period the
Developer may cure the breach described in the notice.
7. Installation of Public and On -Site Improvements. All storm sewer lines,
drainage structures, paved streets, curb, gutter, sidewalk, amenity zones, street and
pedestrian lighting, shared access drives, the undergrounding of all overhead utilities,
and necessary appurtenances as shown on the subdivision plat and the associated
construction documents (the "Public Improvements" or "Improvements") as approved by
the City's Director of Community Development or designee ("Director"), shall be
installed and completed at the expense of the Developer within the timeframes set forth
in Section 11 of this Agreement and as outlined in Exhibit C. The Public Improvements
shall be substantially complete, with only such exceptions as shall be approved in
advance by the Director in the exercise of his or her sole discretion, prior to the
issuance of any Certificate of Occupancy on the Property.
The itemized costs of the Public Improvements required by this Agreement and
shown on the construction documents approved by the Director are set forth on
Exhibit D. All Public Improvements covered by this Agreement shall be made in
accordance with the construction documents drawn according to regulations and
construction standards for such improvement and approved by the Director. It is
understood by the Parties that the description of the Public Improvements may be
general in nature, and that reasonable modifications of the scope, nature, costs, and
similar aspects of the Public Improvements may be necessary to secure final approval
of the Public Improvements. The quantities and locations for the Public Improvements
are based on information that was available at the time of approval of the Final Plat.
Additional Public Improvements may be required, and Developer shall be responsible
for submitting construction documents for review of all Public Improvements and/or
revisions to the Final Plat approved by the City.
Construction of public improvements in City Right -of -Way shall be limited to the
hours of 7:00 a.m. to 5:00 p.m. Monday through Friday. The Developer may request to
perform work in the Right -of -Way outside of these days and/or times, subject to
approval from the Public Works Department, and the Developer shall be liable for any
overtime payments required by the inspector (per Section 21-53a of the City Code).
Construction of private improvements, including construction of buildings,
driveways, private retaining walls, or demolition, and installation of landscaping shall be
limited to the hours of 7:00 a.m. to 7:00 p.m., per Section 5-46 of the City Code.
All public improvements and on-site private improvements are subject to the
City's review and approval of Right -of -Way and Building permits, which may be subject
to conditions related to adequate provisions for contractor parking, traffic management,
and erosion and dust control.
8. Warranty of Public Improvements. The Developer shall warrant any and
all Public Improvements which are conveyed to the City pursuant to this Agreement for
a period of two (2) years from the date the Director certifies that the same conforms to
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the specifications approved by the City (the "Warranty Period"). Specifically, but not by
way of limitation, the Developer shall warrant the following:
(a) That the title conveyed shall be marketable and its transfer rightful;
(b) Any and all Public Improvements conveyed shall be free from any security
interest or other lien or encumbrance; and
(c) Any and all Public Improvements so conveyed shall be free of defects in
materials or workmanship for a period of two (2) years as stated above;
and
(d) To the degree the Developer is required to install and maintain
landscaping on public or private property, it is the obligation of Developer
and its successors and assigns, to maintain the required landscaping in
perpetuity.
The City will finally accept for maintenance all Public Improvements, exclusive of
landscaping materials, after the two-year Warranty Period has expired provided all
warranty work has been completed. The City shall accept for snow removal purposes
only, all dedicated public streets after the City issues the first certificate of occupancy.
10. Observation, Inspection and Testing. The City shall have the right to
require reasonable engineering observations and testing at the Developer's expense.
Observation and testing, acquiescence in, or approval by any engineering inspector of
the construction of physical facilities at any particular time shall not constitute the
approval by the City of any portion of the construction of such Public Improvements.
Such approval shall be made by the City, only after completion of construction and in
the manner hereinafter set forth.
The Director is designated by the City to exercise authority on its behalf under
this Agreement and to see that this Agreement is performed according to its terms.
Work under this Agreement may, without cost or claim against the City, be suspended
by the Director for substantial cause.
The Director shall, within a reasonable time after presentation, make decisions in
writing on all claims of Developer and on all other matters relating to the execution and
progress of the work or the interpretation of this Agreement, the master plan and
specifications. All such decisions of the Director shall be final.
The Director shall make all determinations of amounts and quantities of work
performed hereunder. To assist him in this work Developer shall make available for
inspection any records kept by Developer.
The Director shall make all determinations of amounts and quantities of work
performed hereunder. To assist him in this work Developer shall make available for
inspection any records kept by Developer.
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The Director and his authorized representatives shall have free access to the
work at all times, and Developer shall furnish them with facilities for ascertaining
whether the work being performed, or the work which has been completed, is in
accordance with the requirements of the Agreement.
The Director will make periodic observations of construction (sometimes
commonly referred to as "supervision"). The purpose of these observations and
construction checking is to determine the progress of the work and to see if the work is
being performed in accordance with the plans and specifications. He will in no way be
responsible for how the work is performed, safety in, on, or about the job site, methods
of performance, or timeliness in the performance of the work.
Inspectors may be appointed to inspect materials used and work done.
Inspections may extend to all or any part of the work and to the preparation or
manufacture of the materials to be used. The inspectors will not be authorized to alter
the provisions of this Agreement or any specifications or to act as foreman for
Developer. The Inspector will have authority to reject defective materials and to
suspend any work that is being done improperly, subject to the final decision of the
Director.
11. Completion of Public Improvements. The obligations of the Developer
provided for in Section 7 of this Agreement and Exhibits C and D, including the
inspections hereof, shall be performed on or before October 31, 2023, and proper
application for acceptance of the Public Improvements shall be made on or before such
date. Upon completion of construction by the Developer of such Improvements, the
Director, shall inspect the Improvements and certify with specificity its conformity or lack
thereof to the City's specifications. The Developer shall make all corrections necessary
to bring the Improvements into conformity with the City's specifications. Once approved
by the Director, the City shall accept said Improvements upon conveyance; provided,
however, the City shall not be obligated to accept the Public Improvements until the
actual costs described in this Agreement are paid in full by the Developer.
12. Deferred Installation of Landscaping and Financial Guarantee. If a
Certificate of Occupancy is requested prior to completion of landscaping and irrigation,
an irrevocable letter of credit or escrow account shall be accepted for the completion of
necessary landscaping and irrigation. Said financial guarantee shall be in the amount of
one hundred and twenty five percent (125%) of the cost of installation. Letters of credit
or escrows shall not be released until all planting and finish materials shown on the
approved landscape plan are installed and accepted and the irrigation is installed and
functional. The amount of the escrow or letter of credit shall be based on the itemized
cost estimate for required landscaping and irrigation set forth in Exhibit D. Should the
required landscaping not be properly installed upon the expiration of the letter of credit
or escrow account, the City reserves the right to use such funds to have the required
landscaping placed upon the subject premises. Any costs reasonably incurred by the
City in excess of the funds provided by the letter of credit or escrow shall be recovered
by the City through normal lien proceedings.
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13. Protection. Developer, at its expense, shall continuously maintain
adequate protection of all Improvements from damage prior to acceptance by the City
and shall protect the City's property from injury and loss arising in connection with this
Agreement. Developer shall make good any such damage, injury or loss except such
as may be caused directly by authorized agents or employees of the City. Developer
shall adequately protect adjacent property and shall provide and maintain all
passageways, guard fences, lights and other facilities for protection required by public
authority or local conditions.
Developer shall be responsible for damage to any public and private property on
and adjacent to the site of Developer's Improvements caused by negligent or willful acts
of Developer, its agents or subcontractors. Developer shall take all reasonable effort
necessary to prevent damage to pipes, conduits, and other underground structures and
to overhead wires, and to water quality. Developer shall protect carefully from
disturbance or damage all land monuments and property marks until an authorized
agent of the City has witnessed or otherwise referenced their location, and shall not
remove them until directed. When any direct or indirect damage or injury is done to
public or private property by or on account of any act, omission, neglect or misconduct
in the construction of Improvements, or in consequence of the non -execution thereof on
his part, such damaged property shall be restored by Developer at its own expense to a
condition similar or equal to that existing before such damage or injury.
Developer shall at all times, whether or not so specifically directed by the
Director, take necessary precautions to insure the protection of the public. Developer
shall furnish, erect and maintain, at its own expense, all necessary barricades, suitable
and sufficient red lights, construction signs, provide a sufficient number of watchmen,
and take all necessary precautions for the protection of the work and safety of the public
through or around the Property's construction operations as Developer and the Director
shall deem reasonably necessary.
14. Related Costs - Public Improvements. The Developer shall provide all
necessary engineering designs, surveys, field surveys, testing and incidental services
related to the construction of the Public Improvements at its sole cost and expense,
including final drainage study letter certified accurate by a professional engineer
registered in the State of Colorado.
15. Improvements to be the Property of the City. All Public Improvements for
roads, concrete curb and gutters, public storm sewers and public drainage
improvements accepted by the City shall be dedicated to the City and warranted for a
period of twenty-four (24) months following acceptance by the City, as provided above.
16. Performance Guarantee for Public Improvements. In order to secure the
construction and installation of the Public Improvements the Developer shall, within
ninety (90) days after the execution of this Agreement, furnish the City, at the
Developer's expense, with the Performance Guarantee described herein.
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The Performance Guarantee provided by the Developer shall be in the form of an
irrevocable letter of credit in which the City is designated as beneficiary, for one
hundred twenty-five percent (125%) of the estimated costs of the Public Improvements
to be constructed and installed as set forth in Exhibit D, if applicable to secure the
performance and completion of the Public Improvements as required by Section 26-418
Security for Required Improvements, of the Wheat Ridge Subdivision Regulations.
The Developer agrees that approval of this Agreement by the City is contingent
upon the Developer's provision of an irrevocable letter of credit to the City within ninety
(90) days of the execution of this Agreement in the amount and form provided herein.
Failure of the Developer to provide an irrevocable letter of credit to the City in the
manner provided herein shall negate the City's approval of this Agreement. Letters of
credit shall be substantially in the form and content set forth in Exhibit E, if applicable,
and shall be subject to the review and approval of the City Attorney. The Developer
shall not start any construction of any public or private improvement on the Property
including, but not limited to, staking, earthwork, overlot grading or the erection of any
structure, temporary or otherwise, until the City has received and approved the
irrevocable letter of credit. Notwithstanding the foregoing, the Developer may obtain the
appropriate permits and commence demolition and/or remediation of the Property prior
to the City's receipt and approval of the irrevocable letter of credit.
The estimated costs of the Public Improvements shall be a figure mutually
agreed upon by the Developer and the Director, as set forth in Exhibit D if applicable.
If, however, they are unable to agree, the Director's estimate shall govern after giving
consideration to information provided by the Developer including, but not limited to,
construction contracts and engineering estimates. The purpose of the cost estimate is
solely to determine the amount of security. No representations are made as to the
accuracy of these estimates, and the Developer agrees to pay the actual costs of all
such Public Improvements.
The estimated costs of the Public Improvements may increase in the future.
Accordingly, the City reserves the right to review and adjust the cost estimate on an
annual basis. If the City adjusts the cost estimate for the Public Improvements, the City
shall give written notice to the Developer. The Developer shall, within thirty (30) days
after receipt of said written notice, provide the City with a new or amended letter of
credit in the amount of the adjusted cost estimates. If the Developer refuses or fails to
so provide the City with a new or amended letter of credit, the City may exercise the
remedies provided for in this Agreement; provided, however, that prior to increasing the
amount of additional security required, the City shall give credit to the Developer for all
required Public Improvements which have actually been completed so that the amount
of security required at all time shall relate to the cost of required Public Improvements
not yet constructed.
In the event the Public Improvements are not constructed or completed within the
period of time specified by Section 11 of this Agreement or a written extension of time
mutually agreed upon by the Parties to this Agreement, the City may draw on the letter
of credit to complete the Public Improvements called for in this Agreement. In the event
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the letter of credit is to expire within fourteen (14) calendar days and the Developer has
not yet provided a satisfactory replacement, the City may draw on the letter of credit and
either hold such funds as security for performance of this Agreement or spend such
funds to finish Public Improvements or correct problems with the Public Improvements
as the City deems appropriate.
Upon completion of performance of such improvements, conditions and
requirements within the required time, the Developer shall issue an irrevocable letter of
credit to the City in the amount of twenty-five percent (25%) of the total cost of
construction and installation of the Public Improvements (including the cost of
landscaping), to be held by the City during the Warranty Period. If the Public
Improvements are not completed within the required time, the monies may be used to
complete the improvements. If the Public Improvements require repair or replacement
during the Warranty Period and the Developer fails to complete said repairs or
replacement prior to the end of the Warranty Period, the City may draw on the letter of
credit to make required repairs or replacements to the Improvements.
17. Indemnification. The Developer shall indemnify and hold harmless the
City and its officers, employees, agents or servants from any and all suits, actions, and
claims of every nature and description caused by, arising from or on account of this
Agreement any act or omission of the Developer, or of any other person or entity for
whose act or omission the Developer is liable, with respect to the Public Improvements;
and the Developer shall pay any and all judgments rendered against the City as a result
of any suit, action, or claim, together with all reasonable expenses and attorney's fees
and costs incurred by the City in defending any such suit, action or claim.
The Developer shall pay all property taxes due on any portion of the Property
dedicated to the City and shall indemnify and hold harmless the City for any property tax
liability in connection therewith.
18. Waiver of Defects. In executing this Agreement, the Developer waives all
objections it may have concerning defects, if any, in the formalities whereby it is
executed, or concerning the power of the City to impose conditions on the Developer as
set forth herein, and concerning the procedure, substance, and form of the ordinances
or resolutions adopting this Agreement.
19. Third Party Beneficiaries. There are and shall be no third party
beneficiaries to this Agreement.
20. Modifications. This instrument embodies the whole agreement of the
Parties. There are no promises, terms, conditions, or obligations other than those
contained herein; and this Agreement shall supersede all previous communications,
representations, or agreements, either verbal or written, between the Parties. There
shall be no modification of this Agreement except in writing, executed with the same
formalities as this instrument. Subject to the conditions precedent herein, this
Agreement may be enforced in any court of competent jurisdiction.
1::3
21. Release of Liability. It is expressly understood that the City cannot be
legally bound by the representations of any of its agents or their designees except in
accordance with the City of Wheat Ridge Code of Ordinances and the laws of the State
of Colorado.
22. Captions. The captions to this Agreement are inserted only for the
purpose of convenient reference and in no way define, limit, or prescribe the scope or
intent of this Agreement or any part thereof.
23. Binding Effect. This Agreement shall be binding upon and inure to the
benefit of the Parties hereto and their respective heirs, successors, and assigns as the
case may be.
24. No Waiver. No waiver of any of the provisions of this Agreement shall be
deemed or constitute a waiver of any other provisions herein, nor shall such waiver
constitute a continuing waiver unless otherwise expressly provided, nor shall the waiver
of any default hereunder be deemed a waiver of any subsequent default hereunder.
25. Invalid Provision. If any provision of this Agreement shall be determined
to be void by any court of competent jurisdiction, then such determination shall not
affect any other provision hereof, all of the other provisions shall remain in full force and
effect. It is the intention of the Parties that if any provision of this Agreement is capable
of two constructions, one of which would render the provision void, and the other which
would render the provision valid, then the provision shall have the meaning which
renders it valid.
26. Governing Law. The laws of the State of Colorado shall govern the
validity, performance and enforcement of this Agreement. Should either party institute
legal suit or action for enforcement of any obligation contained herein, venue of such
suit or action shall be in Jefferson County, Colorado.
27. Attorneys Fees. Should this Agreement become the subject of litigation to
resolve a claim of default of performance or payment by the Developer and a court of
competent jurisdiction finds in favor of the City, the Developer shall pay the City's
attorney's fees and court costs.
28. Notice. All notices required under this Agreement shall be in writing and
shall be hand delivered or sent by registered or certified mail, return receipt requested,
postage prepaid, to the addresses of the Parties herein set forth. All notices so given
shall be considered effective seventy-two (72) hours after deposit in the United States
mail with the proper address as set forth below. Either Party by notice so given may
change the address to which future notices shall be sent.
Notice to Developer:
Notice to City: Community Development Director
7500 West 29th Avenue
Wheat Ridge, CO 80033
City Attorney
7500 West 29th Avenue
Wheat Ridge, CO 80033
29. Force Majeure. Whenever the Developer is required to complete the
construction, repair, or replacement of Public Improvements by an agreed deadline, the
Developer shall be entitled to an extension of time equal to a delay in completing the
foregoing due to unforeseeable causes beyond the control and without the fault or
negligence of the Developer including, but not restricted to, acts of God, weather, fires
and strikes.
30. Assignment or Assignments. There shall be no transfer or assignment of
any of the rights or obligations of the Developer under this Agreement without the prior
written approval of the City.
31. Recording of Agreement. This Agreement shall be recorded in the real
estate records of Jefferson County and shall be a covenant running with the Property in
order to put prospective purchases or other interested parties on notice as to the terms
and provisions hereof.
32. Title and Authority. The Developer expressly warrants and represents to
the City that it is the record owner of the property constituting the Property and further
represents and warrants, together with the undersigned individual(s) that the
undersigned individual(s) has or have full power and authority to enter into this
Subdivision Improvement Agreement. The Developer and the undersigned individual(s)
understand that the City is relying on such representations and warranties in entering
into this Agreement.
WHEREFORE, the Parties hereto have executed this Agreement on the day and
year first above written.
[Remainder of Page Intentionally Left Blank]
10
ATTEST:
Stephen Kirkpatrick, City Clerk
erald Dahl, City Attorney
(SEAL)
CITY OF WHEAT RIDGE, COLORADO
Bud Starker, Mayor
11
DEVELOPER
By:
Name: �--_ ^fr
Title: 1\"
STATE OF COLORADO )
SS.
COUNTY OF��-.fir )
The foregoing instrument was acknowledged before me this day of
20 7, 1 , by as c._ of
Sweetridge Apartments, LLC.
Witness my hand and official seal.
My commission expires:
CAsx1 E L GIGGY
NOTARY FUOL1C
STATE OF COLORADO
NO TIARY IQ 20104056631
MY C10M IISSION EXPIRES FEBRUARY 22, 2023
(SEAL)
12
Notary Public
LOT 1 OWNER
BY:
Name: �s bs plJ rv,c
Title: OW). -e- �—
STATE OF COLORADO )
COUNTY OF
Jf ��i�sC, j SS.
The foregoing instt was acknowledged before me this f day of
20 "_�_l , by as 4 a `j-& ✓' of
SP Holdings, LLC.
Witness my hand and official seal.
My commission expires: 6(-batar � 3
Notary Public
(SEAL) cAIRRiE L cicGY
NOTARY PUBLIC
STATE OF COLORADO
NOTARY 10 20104056631
MY COMMISSION EXPIRES FEBRUARY 22, 2023
13
EXHIBIT A
Legal Description of Property
LOTS 1 AND 2 AND TRACT A, MAKATURA OFFICE SUBDIVISION FIRST FILING,
CITY OF WHEAT RIDGE, COUNTY OF JEFFERSON, STATE OF COLORADO.
14
EXHIBIT B
Final Plat
(see attached)
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EXHIBIT C
Phasing Plan for Public Improvements
As provided in Section 11, all improvements shall be completed by October 1, 2023, but
may be completed in phases as outlined below:
The fee in lieu of parkland dedication for Lot 2 shall be submitted prior the issuance of a
building permit for that lot.
The building permit(s) for Lot 2 may be issued prior to completion of Public
Improvements. Public Improvements shall be installed prior to issuance of the
Certificate of Occupancy for Lot 2. These improvements shall include:
• Construction of Vance Street in Tract A, which includes:
o Curb and gutter on both sides
o Attached sidewalk on west side
o Amenity zone on west side
o Paving of 26 -foot drive aisle and parallel parking spaces
o Pedestrian lighting
o Street signage
Reconstruction of east -west drive aisle on southern portion of site between
Vance Street and existing 30' access easement on the west side of Lot 1
Installation of landscaping and irrigation is not required prior to Certificate of Occupancy
if issuance of C.O. occurs outside of the planting season, generally October to June.
Refer to Section 12 of the Subdivision Improvement Agreement.
16
EXHIBIT D
Cost Estimate for Public Improvements
(see attached)
17
OPINION OF PROBABLE COST - FUTURE IMPROVEMENTS
This estimate is prepared as a guide and is subjett to possible Changes. It has been prepared to a standard of —racy that, to the best of our knowledge and judgemeM,
is sufficient to satisfy our understanding of the purpose of this estimate. PointConsulting, LLC makes no warranty, either expressed or implied, as to the accuracy of this
estimate.
Point Consulting, LLC
I Project: 4097 Vance Street
8460 W Ken Caryl Avenue, #101
!Project Location: 4097 Vance Street
_
Littleton, CO 80128
Project #: 21.020
Contact: I
Original Preparation: 6/18/2021
Ph. 720.258.6836
Revised: 7/14/2021
ITEM NO. WORK ACTIVITY QUANTITY UNIT
UNIT PRICE TOTAL
CONCRETE ADA IMPROVEMENTS
ADA Ramp 3 EA
$1,643.00 $/EA $4,929.00
6" Sidewalk 17 Sy
$65.00 $/SY $1,105.00
SUBTOTAL
$6,034.00
Project Summation
$6,034.00
Contingency 25%
Sub -Total w/ Contingency
$1,508.50
$7,542.50
Project Grand Total
Plans Dated:
Project Notes/Assumptions:
CITY OF WHEAT RIDGE
ENGINEERING DIVISION
APPROVED FOR:
0 DRAINAGE 0 SIDEWALK
O CURB & GUTTER 0 STREET
J6 MISCELLANEOUS 0 PLAT
COMMENT Itemized Engineer's Cost Estimate
�I�r'uM'ti' ,Le
0712012021
CIVIL ENGINEER DATE
SUBJECT TO FIELD INSPECTIONS
CITY OF WHEAT RIDGE
ENGINEERING DIVISION
DATE 07/15/2021
RECEIVED 07/15/2021
6th Submittal
CITY OF WHEAT R
ENGINEERING DIVISI
APPROVED FIC
11 DRAINAGE O SII
0 CURS & GUTTER O S1
J6 MISCELLANEOUS D PL
OPINION OF PROBABLE COST - PUBLIC IMPROVEMENTS
ihlz estimate is prepared as a guide antl is subject ro passible changes. It has been preparetl to a standard o! accurary that, to Ne best of our knowledge and
udgement, is sAdenttosatisfy our understanding of the purpose of this estimate. Paint Consulting LLC makes no--ty,eithsr expressed er implied, as to the
urary of this estimate.
Point Consulting, LLC
Project: 4097 Vance Street
8460 W Ken Caryl Avenue, #101
Project Location: 4097 Vance
Street
Littleton, CO 80128
Project #: 21.020
_ _
contact: I
Original Preparation: 6/18/2021
Ph. 720.258.6836
Revised: 7/14/2021
ITEM NO. WORK ACTIVITY,
QUANTITY
UNIT
UNIT PRICE
TOTAL
2900 LANDSCAPING
Deciduous Trees
3
Each
$464.00 $/Each
$1,392.00
Evergreen Trees
2
Each
$720.00 $/Each
$1,440.00
5 gal. shrubs
1
Each
$38.00 $/Each
$38.00
5 gal. shrubs
4
Each
$42.00 $/Each
$168.00
1 gal. Perennials
0
Each
$10.00 $/Each
$0.00
1 gal. Grasses
0
Each
$15.00 $/Each
$0.00
Sod
5,117
SF
$1.00 $/SF
$5,117.00
Rock Mulch
1,180
SF
$1.50 $/SF
$1,770.00
Edging
82
LF
$3.50 $/SF
$287.00
Irrigation
2,150
SF
$1.75 $/SF
$3,762.50
SUBTOTAL
$13,974.50
2741 ASPHALT PAVING
Standard Duty Paving
825
SY
$45.00 $/SY
$37,125.00
SUBTOTAL
$37,125.00
2751 CONCRETE CURB& GUTTER
6" Vertical Curb
608
LF
$29.00 $/LF
$17,632.00
6"Sidewalk
93
SY
$60.00 $/SY
$5,580.00
ADA Ramp
3
EA
$1,643.00 -$/EA
$4,929.00
SUBTOTAL
$28,141.00
2630 STORM DRAINAGE
60" Manhole
1
Each
$7,000.00 $/Each
$7,000.00
Castings
1
Each
$800.00 $/Each
$800.00
18" RCP Pipe
32
LF
$75.00 $/LF
$2,400.00
Trenching & Backfill
32
LF
$25.00 $/LF
$800.00
Pipe Bedding
32
LF
$10.00 $/LF
$320.00
SUBTOTAL
$11 320.00
2510 WATER DISTRIBUTION
6" Ductile Iron Fire Line
10
LF
$71.50 $/LF
$715.00
Fire Hydrant w/ All Valves
1
Each
$7,000.00 $/Each
$7,000.00
6" Elbow
2
Each
$100.00 $/Each
$200.00
_
6" by 8" Tee
1
Each
$100.00 $/Each
$100.00
_
8" Tee
1
Each
$100.00 $/Each
$100.00
6" PVC Water line
215
LF
$60.00 $/tF
$12,900.00
_
8" PVC Water line
530
LF
$66.00 $/LF
$34,980.00
8" Stub with Cap
8" Gate Valve
2
2
Each
Each
$100.00 $/Each
$1,923.00 $/Each
$200.00
$3,846.00
Trenching & Backfill
745
LF
$25.00 $/LF
$18,625.00
_
Pipe Bedding
745
LF
$10.00 $/LF
$7,450.00
SUBTOTAL
$86,116.00
2582 SITE LIGHTING
Pedestrain Light Pole
3
Each
$1,982.00 $/Each
$5,946.00
Pedestrain Light Pole Foundation
3
Each
$610.00 $/Each
$1,830.00
Small Pull -Box for landscape Areas
3
Each
$750.00 $/Each
$2,250.00
SUBTOTAL
$10,026.00
Project Summation
$186,702.50
Contingency
25%
$46,675.63
Sub -Total ./ Contingency
$233,378.13
I I D `/1' v E
ON
Project Grand Tg "
$233,378
IR:
Ptions:
DEWALK
'REET
AT
COMMENT Itemized Engineer's Cost Estimate
07/20/2021
CIVIL ENGINEER DATE
SUBJECT TO FIELD INSPECTIONS
CITY OF WHEAT RIDGE
ENGINEERING DIVISION
DATE 07/15/2021
RECEIVED 07/15/2021
6th Submittal
CITY OF WHEAT RID
ENGINEERING DIVISION
APPROVED FOR:
❑ DRAINAGE O SIDEV
❑ CURB & GUTTER ❑ STREI
F1 MISCELLANEOUS ❑ PLAT
COMMENT Itemized Engineer's Cost Estimate
1511 /�'*^'�^^a•� u�izo,soz,
CIVIL ENGINEER DATE
SUBJECT TO FIELD INSPECTIONS
CITY OF WHEAT RIDGE
ENGINEERING DIVISION
DATE 07/15/2021
RECEIVED 07/1512021
6th Submittal
ITEM NO.
WORK ACTIVITY
QUANTITY UNIT
UNIT PRICE
TOTAL
2510
WATER DISTRIBUTION
1.5" type K Copper Une
43
LF
$24.00 $/LF
$1,032.00
1.5" Curb Stop
1
Each
$180.00 $/Each
$180.00
1.5" Water Meter
1
Each
$7,000.00 $/Each
$7,000.00
1.5" tap to 8" line
1
Each
$500.00 $/Each
$500.00
6" Ductile Iron Fire Line
43
LF
$71.50 $/LF
$3,074.50
6" by 8" Tee
1
Each
$100.00 $/Each
$100.00
Trenching & Backfill
43
LF
$25.00 $/LF
$1,075.00
Pipe Bedding
43
LF
$10.00 $/LF
$430.00
SUBTOTAL
$73 391.50
2530
SANITARY SEWER
Sewer Line 6" Pipe (PVC -SDR 35)
83
LF
$40.00 $/LF
$3,320.00
Sewer Line 8" Pipe (PVC -SDR 35)
206
LF
$66.00 $/LF
$13,596.00
6" Sanitary Cleanout
3
Each
$250.00 $/Each
$750.00
8" Sanitary Cleanout
3
Each
$250.00 $/Each
$750.00
Trenching & Backfill
289
LF
$25.00 $/LF
$7,225.00
Pipe Bedding
289
LF
$10.00 $/LF
$2,890.00
SUBTOTAL
$28,531.00
2755
ELECTRICAL SERVICE Not installed 1by Utlli Service Com n
Electrical Transformer Attached
1
Each
$4,000.00 $/Each
$4,000.00
Underground Electric Line
131
Each
$25.00 $/Each
$3,275.00
Electric Meters
1
Each
$600.00 $/Each
$600.00
SUBTOTAL
$7 875.00
2821
FENCING
4' Cedar Fence
53
LF
$30.00 $/LF
$1,590.00
6' Cedar Fence
259
LF
$40.00 $/LF
$10,360.00
SUBTOTAL
$11950.00
Project Summation
$228,992.42
Materials Taa
3%
$6,869.77
Sub -Total w/ Materials Tax
$235,862.19
Plans Dated:
Project Grand Tota
'. $235,862
Project Notes/Assumptions:
EXHIBIT E
Letter of Credit Template
(see attached)
IN
EXAMPLE LOC — Parentheses () indicate applicant/bank defined fields
(Bank Letterhead)
LETTER OF CREDIT # (L.O.C. #)
BENEFICIARY: The City of Wheat Ridge
ADDRESS: 7500 West 29th Avenue, Wheat Ridge, CO 80033
DATE: (Date of Issue)
EXPIRY DATE: (Exp. Date)
IRREVOCABLE STANDBY LETTER OF CREDIT
For: (Developer's Name)
(Developer's Address)
Gentlemen:
We hereby open our IRREVOCABLE STANDBY LETTER OF CREDIT in your favor available by
your drafts drawn on (Bank Name, and Address) for any sum or sums not to exceed in total (Amount
of L.O.C.). We hereby authorize you to draw on us for the account of (Developer's Name) up to an
aggregate amount of (Amount of L.O.C.) (125% engineer's estimated cost of improvements) available
by your drafts at sight accompanied by your signed statement that the above is: 1) drawn in payment
of street improvements including, but not limited to, curb, gutter, sidewalk, asphalt patching, street
paving, and other street improvements shown on the final plat and associated construction documents
for The Corners at Wheat Ridge (the "Project"), and/or 2) drawn in payment of storm drainage
improvements including, but not limited to, detention pond grading, detention pond outlet structure(s),
storm sewer system, and other drainage facilities shown on the final plat and associated construction
documents for the Project.
Drafts must be accompanied by 1) a sight draft; 2) a signed statement by an authorized representative
of the Beneficiary stating as follows: "We hereby certify that the amount of our draft represents funds
owed to the City of Wheat Ridge for payment obligations pursuant to the conditions stated above,
between (Developer's Name) and the City of Wheat Ridge." 3) This original Letter of Credit.
Each draft must bear upon its face a clause "Drawn under Letter of Credit No. (L.O.C. #) dated (Date
of Issue).
This IRREVOCABLE STANDBY LETTER OF CREDIT is not transferable.
We hereby agree with you that drafts drawn under and in compliance with the terms of the Letter of
Credit will be duly honored if presented to the above mentioned drawee Bank on or before (Exp.
Date).
Except as otherwise expressly stated herein, this Letter of Credit and all negotiations
hereunder are subject to all applicable provisions of Uniform Customs and Practices for
Documentary Credits, 2007 Revision, International Chamber of Commerce Publication No.
600.
Sincerely,
(BANK NAME)
By:
(Name and Title of Bank Officer)
DEN -132644-2