HomeMy WebLinkAboutPR 15468: ANGEL TRACE SUBDIVISION PHASE I - PERFORMANCE BONDinteroffice
MEMORANDUM
To: Mayor, City Council, and City Manager
From: Mark T. Sokolow, City Attorney N~
Date: September 3, 2009
Subject: P. R. No. 15468; Council Meeting September 8, 2009
Attached is P. R. No. 15468 approving a performance bond for
Angel Trace Subdivision Phase I.
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Attachment
cc: Director of Public Works
Director Utility Operations
Director of Planning
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P. R. No. 15468
09/02/09 is
RESOLUTION NO.
A RESOLUTION APPROVING A PERFORMANCE BOND FOR
ANGEL TRACE SUBDIVISION FOR PHASE I
WHEREAS, water lines, sewer lines, and drainage lines have
been installed in Angel Trace for Phase I and are pending review
and inspection; and
WHEREAS, the streets and other improvements, i.e., sidewalks
and street lights are in the process of being installed; and
WHEREAS, Section 98-204 of the Code of Ordinances requires
that the developer can apply for and obtain final plat approval if
he submits a performance bond in an amount equal to the estimated
cost of actual construction of such improvements, plus engineering
fees, with the bond being payable to the City and shall guarantee
completion of all required improvements within two (2) years from
the date of final plat approval. If any of the required
improvements are not completed within the time specified in such
bond, the City may let or relet the contract or contracts, and the
subdivider and surety shall be jointly and severally liable for the
cost of such improvements; and
WHEREAS, it is in the best interest of the citizens of Port
Arthur to approve a Performance Bond for Angel Trace Subdivision
Phase I, a copy attached hereto as Exhibit "A".
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR:
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Section 1. That the facts and opinions in the preamble
are true and correct.
Section 2. That the Performance Bond for Angel Trace
Subdivision Phase I, is hereby approved by the City Council in
substantially. the same form as attached hereto as Exhibit "A".
Section 3. That a copy of the caption of this Resolution
be spread upon the Minutes of the City Council.
READ, ADOPTED AND APPROVED on this day of
A.D., 2009, at a Meeting of the City Council of
the City of Port Arthur, by the following vote: AYES:
Mayor
NOES:
ATTEST:
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MAYOR
CITY SECRETARY
APPROVED AS TO FORM:
CITY ATTORNEY
APPROVED FOR ADMINIST TION:
CITY AGER
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EXHIBIT "A"
TO THE RESOLUTION
PERFORMANCE BOND
STATE OF TEXAS ~ BOND NO.
5
COIINTY OF JEFFERSON §
KNOW ALL MEN BY THESE PRESENTS:
THAT WE, Odyssey Residential Holdings, L. P., the
undersigned subdivider, as principal, and Developers Surety
and Indemnity Company, as surety, do hereby acknowledge
ourselves to be held and firmly bound unto the City of Port
Arthur, a municipal corporation of the County of Jefferson,
and State of Texas, in the full and just sum of $720,250
for the payment of which will and truly to be made; we
hereby bind ourselves and our respective heirs,
administrators, executors and assigns, jointly and
severally, firmly by these presents.
WHEREAS, the principal had petitioned the Planning
Commission of the City of Port Arthur for permission to
develop a subdivision within the jurisdiction of the City
of Port Arthur, which is shown as the Angel Trace
Subdivision, Phase I adjacent to 58th Street and Ray Avenue;
and
WHEREAS, such preliminary plat of subdivision was
approved by the Planning Commission on October 6, 2008 for
Phase I (107 Lots); and
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WHEREAS, a final plat for Phase I (approximately 100
lots) is in the process of being submitted prior to all
improvements being completed, i.e., streets, water lines,
sewer lines, drainage storm water lines, roads, sidewalks,
electric lights and other improvements as more fully
described in Exhibit "A"; and
WHEREAS, Section 98-204 of the Code of Ordinances of
the City of Port Arthur requires that the site improvements
set out below be completed by the subdivider in conformance
with the standards established by the code within two (2)
years from the date on which the final plat was approved:
street improvements, sidewalks, water lines, sewer lines,
drainage storm water lines, electric lights and other
improvements as more fully described in Exhibit "A"; and
WHEREAS, the aforesaid code requires that an approved
subdivision final plat may not be filed for record in the
office of the County Clerk until such site improvements
have been completed and have been accepted by the City of
Port Arthur, or until there is provided to the City of Port
Arthur, a guarantee of performance that such site
improvements will have been completed and will have been
accepted by the City within two (2) years of the date on
which the final plat was approved; and
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WHEREAS, the undersigned subdivider has elected to
provide the City of Port Arthur such a guarantee of
performance as a condition precedent to the filing of the
final plat of the subdivision hereinabove described for
record in the office of the County Clerk.
NOW THEREFORE, the condition of the obligation is such
that if the principal shall fail to build the improvements
as denoted in Exhibit "A", on or before the 8th day of
September, 2011, then the surety shall pay for the cost to
construct or cause to be constructed, the above mentioned
improvements, in accordance with the requirements of the
City of Port Arthur, up to a total amount of $720,250 which
is the engineer's estimate of the cost to complete the
improvements. If any or all of the required improvements
are not completed by the 8th day of September 2011, then the
City may at its sole discretion let or relet contract or
contracts to complete the work and the principal and the
surety shall be jointly and severally liable for the cost
of such improvements.
IN TESTIMONY WHEREOF, witness our hand and seal this
day of
2009.
ODYSSEY RESIDENTIAL HOLDINGS, L. P.
Subdivider and Principal
BY:
TITLE:
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DEVELOPERS SURETY AND INDEMNITY COMPANY
APPROVED AND ACCEPTED this day of
2009.
CITY OF PORT ARTHUR
BY:
TITLE:
APPROVED AS TO FORM:
MARK T. SOROLOW, CITY ATTORNEY
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EXI~BIT A
ANGEL TRACE PHASE I
The total construction cost for the subdivision development is estimated to be
$2,405,022.00. The amount required to complete the project (Phase I) is estimated to be
$720,250.00. This amount required to complete the project includes the following:
• Paving the Streets
• Installing the Sidewalks
• Streetlights
• 10% of the cost of the completed items.
Those items that are complete include:
• Water system
• Sewer Collection system
• Storm Sewer and Junction Boxes
• Inlets
• Excavation of pond
• Fill on the lots
• Drainage ties to Drainage District 7 ditch system
• Various other tasks related to the above mentioned items
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