2018-1772018-177
Resolution Accepting First Reduction In The Security Posted With The Performance
Agreement Secured By A Surety Bond In Connection With Hilltop Village At Wappinger
(The Regency At Wappinger) - (Roberti/Thurston)
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 July 23,
2018.
The meeting was called to order by Richard Thurston, Town Supervisor, and upon roll
being called, the following was recorded:
✓ Vote Record - Resolution RES -2018-177
Yes/Aye
No/Nay
Abstain
Absent
Q Adopted
❑ Adopted as Amended
Richard Thurston
Mover
Q
❑
❑
❑
❑ Defeated
William H. Beale
Voter
Q
❑
❑
❑
❑ Tabled
Angela Bettina
Voter
Q
❑
❑
❑
❑ Withdrawn
Robert Johnston
Seconder
Q
❑
❑
❑
Michael Kuzmicz
Voter
Q
❑
❑
❑
The following Resolution was introduced by Supervisor Thurston and seconded by
Councilman Johnston.
WHEREAS, by Resolution 2015-145, the Town Board accepted a Performance
Agreement executed by Toll Land V, Limited Partnership and personally guaranteed by James
Fitzpatrick, as Division President, secured by a Surety Bond issued by Arch Insurance Company
in the principal sum of Three Hundred Seventy -Seven Thousand Eight Hundred 00/100 Dollars
($377,800.00) in favor of the Town of Wappinger as the guarantee of completion of the
construction, installation and dedication of improvements required for the Hilltop Village at
Wappinger (The Regency at Wappinger); and
WHEREAS, Toll Land V, Limited Partnership has completed most of the required
improvements for said subdivision; and
WHEREAS, by email dated July 17, 2018, Robert J. Gray, P.E. of Morris Associates
Engineering & Surveying Consultants, PLLC, has recommended a reduction in the security
posted to the sum of One Hundred Fifty -Five Thousand Eight Hundred 00/100 Dollars
($155,800.00); and
WHEREAS, the Town Board hereby agrees to and authorizes a reduction in the security
posted with the Performance Agreement, and hereby agrees to accept a reduced Surety Bond in
the sum of One Hundred Fifty -Five Thousand Eight Hundred 00/100 Dollars ($155,800.00) as
security to guarantee the completion of the remaining 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 agrees to accept a reduced Surety Bond in the amount of
One Hundred Fifty -Five Thousand Eight Hundred 00/100 Dollars ($155,800.00), as the security
posted with the Performance Agreement so as to ensure that the improvements required for
Hilltop Village at Wappinger (The Regency at Wappinger) will be properly completed and
maintained as required by the Planning Board Resolution of Approval dated March 18, 2013.
The Surety Bond previously posted in the sum of Three Hundred Seventy -Seven Thousand Eight
Hundred 00/100 Dollars ($377,800.00) is hereby authorized to be released by the Town Clerk to
Toll Land V, Limited Partnership upon delivery of a reduced Surety Bond in the sum of One
Hundred Fifty -Five Thousand Eight Hundred 00/100 Dollars ($155,800.00) in form acceptable
to the Attorney to the Town.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED [UNANIMOUS]
MOVER: Richard Thurston, Supervisor
SECONDER: Robert Johnston, Councilman
AYES: Thurston, Beale, Bettina, Johnston, Kuzmicz
Dated: Wappingers Falls, New York
7/23/2018
The Resolution is hereby duly declared Adopted.
P. PAOLONI, TOWN CLERK