Loading...
11/19/10 Jentz to Deist/Release of Performance BondPlanning Department 201 1" Avenue East Kalispell, MT 59901 Phone: (406) 758-7940 Fax: (406) 758-7739 www.kalispen.com/planning MEMORANDUM To: Deb Deist, City Treasurer From: Tom Jentz, Planning Director ,. , Date: November 19, 2010 Subject: Release of Mountain View Plaza Performance Bond I am recommending that we release/extinguish the $3,237,362.50 performance bond for Mountain View Plaza phases 1 and 2 dated July 20, 2001. I have made this determination based on the research below: On May 2, 2001 the city approved a Planned Unit Development zoning classification for Mountain View Plaza. At that time the PUD section of the Kalispell Zoning Ordinance required that when a PUD was approved, the underlying owner/ applicant was required to bond for all public improvements associated with the PUD. As an attachment to the PUD Ordinance 1380, the city did enter into a Planned Unit Development Agreement dated May 2, 2001 with Pack and Company and Crosswell Development (Mountain View Plaza). Section 2.10.F. of this PUD agreement required that all public infrastructure associated with the PUD must be bonded for before the issuance of any building or construction permit. Section 1.15 of that agreement went on to describe the public infrastructure required to be bonded for. Finally, there was an engineers' estimate (Exhibit D) for roughly $2.6 million attached to the PUD agreement. Taking the engineers' estimate times the required 125% of estimated work the bond amount of $3.2 million is arrived at. Pack and Company and Crosswell at that point had an approved PUD. They then proceeded to prepare a preliminary and final plat for development of the overall Mountain View Plaza development. As part of the platting process very specific engineering and design work was undertaken to develop the infrastructure for the Mountain View Plaza. This culminated in a final plat being approved by the city council in September 17, 2003. As part of the planning office staff report, it was noted that all public infrastructure and improvements were in place and approved. No performance bond or extra subdivision improvements agreement was associated with the project. In conclusion, the bond notation that the city has been holding is in fact the interim bonding that was required by the approval of a PUD. The platting process and filing of the final plat have since superseded the PUD bonding requirement. I consider the issue closed. If you have any questions, do not hesitate to contact me.