2014-238
2014-238
Resolution Accepting Performance Agreement Secured By Letter Of Credit In Connection
With Nature Preserve
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
September 22, 2014.
The meeting was called to order by Barbara Gutzler, Supervisor, and upon roll being
called, the following was recorded:
Vote Record - Resolution RES-2014-238
Yes/AyeNo/NayAbstainAbsent
Adopted
Barbara GutzlerVoter
Adopted as Amended
William H. BealeMover
Defeated
Vincent BettinaSeconder
Tabled
Ismay CzarnieckiVoter
Withdrawn
Michael KuzmiczVoter
The following Resolution was introduced by Councilman Beale and seconded by
Councilman Bettina.
WHEREAS
, Nature Preserve, LLC has made application to the Town of Wappinger Planning
Board to approve a subdivision of lands more particularly described in a Subdivision Plat entitled
“Nature Preserve” prepared by M. A. Day Engineering, P.C., dated December 20, 2004, last
revised April 17, 2014; and
WHEREAS
, the Town of Wappinger Planning Board granted Final Conditional
Subdivision Approval to Nature Preserve, LLC pursuant to Resolution dated September 17,
2007, subject to improvements being made and constructed within said subdivision as set forth in
the construction documents prepared and submitted in connection therewith, and subject to
completion of and/or the compliance with the requirements set forth in the Town of Wappinger
Subdivision Regulations, Highway Specifications, Zoning Law (including compliance with
escrow deposits) and Municipal Stormwater Management Law; and
WHEREAS,
Town Law §277 requires that a developer of a proposed subdivision
guarantee the construction and installation of the required improvements required by the
Resolution of Approval, prior to the issuance of any Certificates of Occupancy; and
WHEREAS,
the Town of Wappinger is requiring Nature Preserve, LLC to secure the
cost of the remaining work as outlined by Mark A. Day, P.E. in a letter dated August 25, 2014, a
copy of which is attached hereto and made a part hereof; and
WHEREAS
, to secure the obligation to guarantee the construction and installation of the
required improvements and obligations, and compliance with required escrow deposits, Carl J.
Kuehner, as a Member of Nature Preserve, LLC, and individually as guarantor, has executed a
Performance Agreement dated September 15, 2014 secured by a Letter of Credit issued by First
Niagara Bank, bearing number 430212 and issued in favor of the Town of Wappinger in the sum
of One Hundred Twenty Two Thousand Two Hundred Forty-Four Dollars ($122,244.00) posted
with the Town of Wappinger, securing the obligations set forth in the Performance Agreement;
and
WHEREAS,
Nature Preserve, LLC covenants and warrants to the Town of Wappinger
that in the event Nature Preserve, LLC fails to fully perform and complete all the requirements of
the Resolution of Approval, then, upon the demand of the Town of Wappinger, the Town of
Wappinger shall have the right to draw upon the Letter of Credit in an amount equal to the cost
necessary to complete the required improvements; and
WHEREAS,
it is understood that the Town of Wappinger shall have the right to use said
security toward the completion of any required improvements required by the Resolution of
Approval upon the default of Nature Preserve, LLC to remedy the same after the first given
written notice to Nature Preserve, LLC to do so within thirty (30) days of receipt of said notice
from the Town of Wappinger; and
WHEREAS,
the Performance Agreement executed by Nature Preserve, LLC, and Carl J.
Kuehner individually as guarantor, further binds their heirs, executors, administrators, successors
or assigns for the faithful performance of its obligations hereunder.
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 Carl J. Kuehner, as a Member of Nature
Preserve, LLC, and Carl J. Kuehner, individually, in favor of the Town of Wappinger is hereby
accepted as security to guarantee the completion of the construction and installation of the
improvements required by the Resolution of Approval pursuant to Town Law §277.
3. The Letter of Credit bearing number 430212, issued in favor of the Town of
Wappinger, dated September 17, 2014 is hereby accepted as security for the obligations set forth
in the Performance Agreement and both the original Letter of Credit and the original
Performance Agreement in the amount of One Hundred Twenty Two Thousand Two Hundred
Forty-Four Dollars ($122,244.00) is to be filed with the Town Clerk.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED \[UNANIMOUS\]
MOVER:
William H. Beale, Councilman
SECONDER:
Vincent Bettina, Councilman
AYES:
Gutzler, Beale, Bettina, Czarniecki, Kuzmicz
Dated: Wappingers Falls, New York
9/22/2014
The Resolution is hereby duly declared adopted.
___________________________________________
JOSEPH P. PAOLONI, TOWN CLERK