2006-186D
COPY
2006-186
Resolution Accepting a Performance Agreement Secured by Surety Bond for the Shamrock
Hills 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
28`x', 2006.
The meeting was called to order by Joseph Ruggiero, Supervisor, and upon roll being
called, the following were present:
PRESENT: Supervisor
Councilmembers
ABSENT:
Joseph Ruggiero
Robert L. Valdati
Vincent F. Bettina
Joseph P. Paoloni
Maureen McCarthy
The following Resolution was introduced by Councilman Bettina and seconded by
Councilwoman McCarthy.
WHEREAS, Shamrock of Dutchess, LLC, has made application to the Town of
Wappinger Planning Board to approve the subdivision of land, more particularly described in a
Subdivision Plat entitled "Shamrock Hills Subdivision", prepared by Povall Engineering, PLLC,
dated September 12, 2003, and subsequently revised from time to time; and
WHEREAS, the Town of Wappinger Planning Board granted Final Conditional
Subdivision Approval by Resolution dated November 9, 2005, and amended by Resolution
adopted August 7, 2006 subject to and conditioned upon completion of the conditions set forth in
the aforementioned Resolution, and subject to certain improvements being made and constructed
as set forth in the aforesaid Subdivision Map and related Contract drawings, all in accordance
with the Town of Wappinger Subdivision Regulations, Zoning Code, Highway Specifications,
Rules and Regulations of the Town and further subject to the requirements set forth in the letter
of Paggi, Martin & Del Bene, LLP, Engineers to the Town, dated July 12, 2006, which sets forth
the amount necessary to be posted to secure the Performance Agreement guaranteeing the
improvements required to be completed in connection with the Shamrock Hills Subdivision,
which amount is Six Million, Five Hundred and Ninety -Four Thousand ($6,594,000.00); and
WHEREAS, Shamrock of Dutchess, LLC intends to convey its rights and interests in
said Subdivision to Toll Land VI Limited Partnership; and
WHEREAS, Town Law §277 requires that a developer in a subdivision guarantee the
construction, installation and dedication of the improvements required by the Resolution of
Subdivision Approval, prior to issuance of any Building Permits; and
WHEREAS, in connection with the Shamrock Hills Subdivision, Toll Land VI Limited
Partnership, by Thomas E. Hausle, a duly authorized officer and/or agent of Toll Land VI
Limited Partnership, executed and posted a Performance Agreement secured by a Surety Bond,
dated August 23, 2006; and
WHEREAS, in connection with the Shamrock Hills Subdivision, the Performance
Agreement is secured by Surety Bond (No. 39BSBDT0495), issued by Hartford Fire Insurance
Company on August 22, 2006, in favor of the Town of Wappinger in the sum of Six Million,
Five Hundred and Ninety -Four Thousand Dollars ($6,594,000.00) posted by Toll Land VI
Limited Partnership; and
WHEREAS, Toll Land VI Limited Partnership, by Thomas E. Hausle, as officer and/or
agent, has tendered to the Town of Wappinger a Performance Agreement dated August 23, 2006,
secured by a Surety Bond in the sum of Six Million, Five Hundred and Ninety -Four Thousand
Dollars ($6,594,000.00)
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 Performance Agreement executed by Thomas E. Hausle, as duly authorized
officer and/or agent of Toll Land VI Limited Partnership, in favor of the Town of Wappinger is
hereby accepted as the guarantee of completion of the construction, installation and dedication of
the improvements required by the Resolution of Subdivision Approval pursuant to Town Law
§277.
3. The Surety Bond bearing No. 39BSBDT0495, issued in favor of the Town of
Wappinger dated August 22, 2006 is hereby accepted as security for the original Performance
Agreement and both the original Surety Bond and the original Performance Agreement in the
amount of Six Million, Five Hundred and Ninety -Four Thousand Dollars ($6,594,000.00), have
been placed on file with the Town Clerk.
The foregoing was put to a vote which resulted as follows:
JOSEPH RUGGIERO, SUPERVISOR
Voting:
AYE
ROBERT L. VALDATI, 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
8/28/2006
D
The Resolution is hereby duly declared adopted.
-:2 A_■�
ER