2007-18516
LW 2007-185 COPY
Resolution Accepting Extended Maintenance and Guarantee Agreement Secured b Letter
g Y
of Credit for the Keenan Acres Subdivision
At a regular meeting of the Town Board of the Town of Wappinger, Dutchess County,
New York, held at Town Hall, 20 Middlebush Road, Wappingers Falls, New York, on August
27th, 2007.
The meeting was called to order by Joseph Ruggiero, Supervisor, and upon roll being
called, the following were present:
PRESENT: Supervisor - Joseph Ruggiero
Councilmembers - William H. Beale
Vincent F. Bettina
Joseph P. Paoloni (arrived at 7:38 PM)
Maureen McCarthy
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The following Resolution was introduced by Councilman Bettina and seconded by
Councilwoman McCarthy.
WHEREAS, by Resolution dated August 28th, 2006, the Town Board accepted the roads
and other public improvements associated with the Keenan Acres Subdivision, which
improvements included three (3) holding ponds with associated landscaping constructed in
conjunction with the Storm Water Pollution Prevention (SWPP) Plan approved by the Town of
Wappinger Planning Board in connection with the approval of the subdivision; and
WHEREAS, Mid Hudson Holdings, LLC, as owner and developer of the Keenan Acres
Subdivision, posted a Maintenance Agreement dated August 23rd, 2006, secured by an
Irrevocable Letter of Credit issued by Rhinebeck Savings Bank, bearing number 20608291 in
favor of the Town of Wappinger in the sum of Two Hundred and Eleven Thousand, Five
Hundred and Sixty -Two Dollars ($211,562.00), to guarantee the quality and workmanship of the
improvements made in connection with said subdivision, including the aforementioned three (3)
holding ponds and associated landscaping; and
WHEREAS, Mid Hudson Holdings, LLC is required to guarantee the quality and
workmanship of the roads, sewer system, water system and drainage pipes for a period of one
year from the date of acceptance; and
WHEREAS, the Town acknowledges that the roads, sewer system, water system and
drainage pipes have been acceptably maintained in good working order and condition for a
period of one year from the date of acceptance on October 281h, 2006; and
WHEREAS, Mid Hudson Holdings, LLC is obligated to guarantee that the three (3)
holding ponds and associated landscaping will be maintained in good operating and working
condition and that any landscaping associated with the holding ponds will be maintained in a
vigorous growing condition consistent with the New York State Storm Water Management
Design Manual, dated October 2001, for a period of three years after acceptance of the work; and
WHEREAS, Mid Hudson Holdings, LLC has executed an Extended Maintenance and
Guarantee Agreement secured by a Twenty Five Thousand Dollar ($25,000.00) Letter of Credit
issued by Rhinebeck Savings Bank in favor of the Town, to guarantee that the three (3) holding
ponds and associated landscaping will be maintained in good operating and working condition
and that any landscaping associated with the holding ponds will be maintained in a vigorous
growing condition consistent with the New York State Storm Water Management Design
Manual, dated October 2001, for a period of three years after acceptance of the work.
NOW, THEREFORE, BE IT RESOLVED, as follows:
1. The recitations above set forth are incorporated in this Resolution as if fully set
forth and adopted herein.
2. The Town Board hereby accepts the Extended Maintenance and Guarantee
Agreement executed by Mid Hudson Holdings, LLC, personally guaranteed by John Goetz, a
member thereof, as the guarantee that Mid Hudson Holdings, LLC will maintain the three (3)
holding ponds and associated landscaping in good operating and working condition that any
landscaping associated with the holding ponds will be maintain in a vigorous growing condition
consistent with the New York State Storm Water Management Design Manual, dated October
2001, for an additional two years, through August 29, 2009.
3. The Irrevocable Letter of Credit issued by Rhinebeck Savings Bank, bearing
number 20708291, and issued in favor of the Town of Wappinger in the sum of Twenty Five
Thousand Dollars ($25,000.00), securing the obligations set forth in the Extended Maintenance
and Guarantee Agreement is hereby accepted as security for the due performance thereof.
4. The acceptance of the Extended Maintenance and Guarantee Agreement was
made on the written assurance that John Goetz, a member of Mid Hudson Holdings, LLC, will
personally guarantee the obligations set forth in the Extended Maintenance and Guarantee
Agreement.
5. The Town Board hereby authorizes the release of the Irrevocable Letter of Credit
issued by Rhinebeck Savings Bank, bearing number 20608291 and issued in favor of the Town
of Wappinger for the sum of Two Hundred and Eleven Thousand, Five Hundred and Sixty -Two
Dollars ($211,562.00) upon receipt of a Letter of Credit in the sum of Twenty Five Thousand
Dollars ($25,000.00) securing the obligations set forth in the Extended Maintenance and
Guarantee Agreement executed by Mid Hudson Holdings, LLC on August 29th, 2007, and
personally guaranteed by John Goetz, member.
6. The Town Board hereby confirms that the developer, Mid Hudson Holdings, LLC
has fulfilled all of its obligations with respect to its guarantee and maintenance obligations for
the roads, sewer systems, water systems and drainage pipes constructed in connection with the
Keenan Acres Subdivision.
7. The Town Board hereby authorizes the Town Clerk to release the Letter of Credit
in the sum of Two Hundred and Eleven Thousand, Five Hundred and Sixty -Two Dollars
($211,562.00) posted as security for the Maintenance Agreement dated August 23, 2006, upon
receipt of a new Irrevocable Letter of Credit in the sum of twenty Five Thousand Dollars
($25,000.00) securing the obligations set forth in the Extended Maintenance and Guarantee
Agreement.
The foregoing was put to a vote which resulted as follows:
JOSEPH RUGGIERO, SUPERVISOR
Voting:
AYE
WILLIAM H. BEALE, COUNCILMAN
Voting:
AYE
VINCENT F. BETTINA, COUNCILMAN
Voting:
AYE
JOSEPH P. PAOLONI, COUNCILMAN
Voting:
AYE
MAUREEN McCARTHY, COUNCILWOMAN
Voting:
AYE
Dated: Wappingers Falls, New York
8/27/2007
The Resolution is hereby duly declared adopted.
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C. MA TERSON, TOWN CLERK