2020-112
2020-112
Resolution Accepting First Reduction In The Security Posted With The Performance
Agreement Secured By A Surety Bond In Connection With Maloney Heights 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 May 26,
2020.
The meeting was called to order by Richard Thurston, Town Supervisor, and upon roll
being called, the following was recorded:
Vote Record - Resolution RES-2020-112
Yes/Aye No/Nay Abstain Absent
Adopted
Richard Thurston Voter
Adopted as Amended
William H. Beale Voter
Defeated
Angela Bettina Seconder
Tabled
Christopher Phillips Voter
Withdrawn
Al Casella Mover
The following Resolution was introduced by Casella and seconded by Councilwoman
Bettina.
WHEREAS, by Resolution 2019-91, the Town Board accepted a Performance
Agreement executed by Sustainable Ridgeline Corp., secured by a Surety Bond issued by
Developers Surety and Indemnity Company in the principal sum of Six Hundred Twenty-One
Thousand Four Hundred Eighty 00/100 Dollars ($621,480.00) in favor of the Town of
Wappinger as the guarantee of completion of the construction, installation and dedication of
improvements required for the Maloney Heights Subdivision; and
WHEREAS, Sustainable Ridgeline Corp. has completed most of the required
improvements for said subdivision; and
WHEREAS, by letter dated May 18, 2020, Thomas Harvey, P.E. of CPL, has
recommended a reduction in the security posted to the sum of Two Hundred Twenty-Two
Thousand One Hundred Twenty 00/100 Dollars ($222,120.00); 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 Two Hundred Twenty-Two Thousand One Hundred Twenty 00/100 Dollars
($222,120.00) as security to guarantee the completion of the remaining work.
NOW, THEREFORE, BE IT RESOLVED, that the Town Board hereby agrees to
accept a reduced Surety Bond in the amount of Two Hundred Twenty-Two Thousand One
Hundred Twenty 00/100 Dollars ($222,120.00), as the security posted with the Performance
Agreement so as to ensure that the improvements required for Maloney Heights Subdivision will
be properly completed and maintained as required by the Planning Board Resolution of Approval
dated March 4, 2019; and be it further
RESOLVED, that the Surety Bond previously posted in the sum of Six Hundred
Twenty-One Thousand Four Hundred Eighty 00/100 Dollars ($621,480.00) is hereby authorized
to be released by the Town Clerk to Sustainable Ridgeline Corp. upon delivery of a reduced
Surety Bond in the sum of Two Hundred Twenty-Two Thousand One Hundred Twenty 00/100
Dollars ($222,120.00) in form acceptable to the Attorney to the Town.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED \[UNANIMOUS\]
MOVER: Al Casella, Councilman
SECONDER: Angela Bettina, Councilwoman
AYES: Thurston, Beale, Bettina, Phillips, Casella
Dated: Wappingers Falls, New York
5/26/2020
The Resolution is hereby duly declared Adopted.
___________________________________________
JOSEPH P. PAOLONI, TOWN CLERK