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HomeMy WebLinkAboutA019 - Council Action Form dated February 11, 2020 - with LOC and supporting emails �1r7Y OF Ames.. Smart Choice Public Works Department 515 Clark Avenue, Ames, Iowa 50010 Phone 515-239-5160 ♦ Fax 515-239-5404 Item No. 14 February 11, 2020 Honorable Mayor and Council Members City of Ames Ames, Iowa 50010 RE: Quarry Estates 1"Addition Conservation Maintenance Financial Security Release Mayor and Council Members: I hereby certify that the maintenance of conservation areas required as a condition for approval of the final plat of Quarry Estates Subdivision 1'Addition has been completed in an acceptable manner by TJ's Landscaping of Ames, Iowa. The above-mentioned maintenance has been completed and accepted by the Engineering Division of the Public Works Department of the City of Ames, Iowa. As a result of this certification, it is recommended that the financial security for maintenance of the conservation areas on file with the City for this subdivision be released in full. Sincerely, John C.Joiner, P.E. Director JJ/nw cc: Finance, Contractor, Planning& Housing, Subdivision file Public Works Department 515.239.5160 in 515 Clark Ave.P.O.Box 811 Engineering 515.239.5404 (ax Ames,IA 50010 www.CityofAnies.org IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER:VISIONBANK OF IOWA 104 CHESTNUT ST AMES,IA 50010-8058 Date of Issue:11.25.2015 Letter of Credit Number: 86 Amount: U.S. $ 8,600.00 ( EIGHT THOUSAND SIX HUNDRED AND N01100 U.S. DOLLARS) For Benefit Of: For Account Of: Beneficiary Name and Address Applicant Name and Address CITY OF AMES THE QUARRY ESTATES LLC 515 CLARK AVE,AMES,IA 50010 100 6TH ST AMES,IA 50010 LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than one) together with the documents described below. Each Draft shall be signed on behalf of Beneficiary and be marked "Drawn under [Issuer name] Letter of Credit No. [Letter of Credit number] dated [Letter of Credit date]." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the Draft. This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this Letter of Credit, or any document to which this Letter of Credit may be related. This Letter of Credit expires on the Expiration Date. DRAWINGS. ❑ Partial drawings shall not be permitted under this Letter of Credit. M Partial drawings are permitted. The maximum number of drawings that may be made is DOCUMENTS. Each Draft must be accompanied by the following, an original and two copies except as stated: ❑ The original Letter of Credit, together with any amendments. ❑ A sight draft drawn by Beneficiary on Issuer. ® A signed statement by Beneficiary including the following statement: DRAWN UNDER IRREVOCABLE STANDBY LETTER OF CREDIT#86 DATED NOVEMBER 25,2015,FOR THE ACCOUNT OF THE QUARRY ESTATES,LLC. ❑ Other documents: Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to verify the identity or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS: Irrevocable Standby Letter of Credit LC-STANDBY 9/11/2009 VMPO Bankers SystemsTM VMPC612 (0909).00 Wolters Kluwer Financial Services©2001,2009 Page 1 of 2 Z 10 Z 06ed 60OZ'100Z OO saolAlaS leioueuld lamnl>l slalloM 00'(6060) Zl90dWA niswalsAS slwluea pdWA 60OZ/l L/6 AS(7Ntl1S-01 11pa30 10 lanal AgpuelS olgeooAaiil (a11?,L Pue amuN iaustS) 1N301S3Hd 13NHVIN'NOSM3H11tlW iHnN StlWOHl 00, AR (atuuN aanssl) VMOI 30 NNVONOISIA •alquotlddu su `dSI 10 d3fl ag1 tlltm lualsisuooui 1ou alu smul Bans su Suol os `uatlimV ;o sale►S Pallufl agl vM01 3o smul aql Aq pau10no8 aq osiu I17ags 1jpa1j 3o lalla'I sttl.L •(86dSI) 866T saatlauld XgpuulS Iuuoilmialul ag1 ❑ •luautpuatuu to uotslan lalul Niue to `(dDfl)009 'oN uotluollgnd aolaanuoD ;0 lagUMgD IuuOtlutualul `uotsinag LOOZ `SIM01O faMUautnooCI 10J aotlould puu sutolsnD uuo;tun aql iq paulano8 ag llugs ltpalD;o lalla I stq.I, •Md"I g"IgVDI-Iddd •alqula3suull-uou ❑ alqulajsuull (j st ppalD jo Iallal sqL 'A.LI-IIg`d22jdSNVld , •6lutogauag o1 lanssl tuo13 aotlou Cut; lnotptm uo altdxa I17ogs 1tpwD 3o lallxl stgl `luana Xuu uI •ltpalD;o 1a11arl slip pualxa of lou sloala lanssl lugl no(I uotleltdxg aql o1 loud sAup lsual 1E Sui ilm ut fautogauag sagtlou Ianssl ssapm `ale(I uotlultdxg alp tuo13 sAup 3o pound u lo3 popualxa ag Ilugs aluQ uotlulidxg aql `alud uoilmidXg aql of Iopd ltpalO 3o nuoo I stgl 3o lunoutu llnl agl umulp lou suq fautogauag 3I ❑ •a1u(l uotlu idxg agl alopq to uo 1jpa1D 3o 1311a'l stgl 3o su0tstnold aql gltm oxmildutoo bills ut paluasald sl3u1Q Ilu louog o1 saaBu lanssl (iju(j) LIOZ-LC•ZI uo (IUH,L) 'W•d 0£:b lu ssalppu s,lanssl lu ssatusnq;o asolo aqt 1t, saltdxa ltpalD 30 191131 slu 'HIVCI NOIJV-dIdXg IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER: VISIONBANK OF IOWA 104 CHESTNUT ST AMES,IA 50010-8058 Date of Issue:12-26-2017 Letter of Credit Number: 86 Amount: U.S. $ 8,600.00 ( EIGHT THOUSAND SIX HUNDRED AND N01100 U.S. DOLLARS) For Benefit Of: For Account Of: Beneficiary Name and Address Applicant Name and Address CITY OF AMES THE QUARRY ESTATES LLC 515 CLARK AVE,AMES,IA 50010 100 6TH ST AMES,IA 50010 LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than one) together with the documents described below. Each Draft shall be signed on behalf of Beneficiary and be marked "Drawn under [Issuer name] Letter of Credit No. [Letter of Credit number] dated [Letter of Credit date]." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the Draft. This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this Letter of Credit, or any document to which this Letter of Credit may be related. This Letter of Credit expires on the Expiration Date. DRAWINGS. ❑ Partial drawings shall not be permitted under this Letter of Credit. ® Partial drawings are permitted. The maximum number of drawings that may be made is DOCUMENTS. Each Draft must be accompanied by the following, an original and two copies except as stated: ❑ The original Letter of Credit, together with any amendments. ❑ A sight draft drawn by Beneficiary on Issuer. ® A signed statement by Beneficiary including the following statement: DRAWN UNDER IRREVOCABLE STANDBY LETTER OF CREDIT#86 DATED DECEMBER 26,2017,FOR THE ACCOUNT OF THE QUARRY ESTATES,LLC. ❑ Other documents: Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to verify the identity or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS: THIS LETTER OF CREDIT IS FOR THE USE AND BENEFIT OF THE QUARRY ESTATES LLC TO SECURE MAINTENANCE AND OPERATION COSTS OF THE CONSERVATION AREA. Irrevocable Standby Letter of Credit LC-STANDBY 9/11/2009 VMP®Bankers SystemsTM VMPC612 (0909).00 Wolters Kluwer Financial Services©2001,2009 Page 1 of 2 Z;o Z 06ed 60OZ'LooZ OO sao!AiaS!e!oueu!A iaMnO!sial!oM 0016060! ZL90dWA W1swa1sASSJGIUB13 epdWA 600Z/1 L/6 A90NVIS-01 1!pai0;o iaua-I AgpuelS a!geoonaJJ! (apu pug—um iau2TS) 1N301S3Md 13NUM NOSM3HIMN im smon (a Q) (amaeu�tS) Ag (auTeN ianssl) VM0130 NNtl8NOISIA •olgeolldde se `dSI Jo dDfl agl gllm lualsisaoou[lou aie sMel Bans se$uol os `eouaury ;o salelS pallafl agl ` tlM01 3o smel aql Aq pauuano$ aq osle iiegs l.PauO 3o uaua-1 sigl '(86dSI)8661 saolloeud AgpuelS Ieaotleuualul aql ❑ •luatupuatue 10 uots13A lalel Niue 10 `(dOfl)009 uollEoilgnd aouaur aoD ;o uagtueg0 leuotleuualul `uolSTAag LOOZ `Sl?PauO faeluauinooQ uo3 aolloeud ME smolsn0 tuuo�un agl :Aq pauJaAOS aq Ilegs upaJ0 3o uaua-I SILL -MV-I d'IgdOI'Iddd 'algeua;sueul-uou ❑ olgeJajwuil ® Si lipwD 3o Jaua-I SILL -X LI'IIHFN-dgdSNV-d L -Aniogauag of Janssl taou; aollou Niue lnogltm uo andxa Ilegs lipau0;0 uaua I slgl luana Aae al •llpau0 3o uaua l slgl puma of lou sloala Janssl 1etp aleQ uoileutdxg oql of Joild step lseal le guiltim ui Aumogauag sagpou Janssl ssalan `mu(j uoilendxg alp utoJ; sfrp 3o pollad g Jo; papualxa aq Ilegs aleQ uollendxg ag1 `aleQ uollendxg aql of uoud lipauD ;o uaua-1 sup 30 lunoute llttl aql umeup lou seg Auelo►;auag 3I ❑ •a1eQ uoilendxg aql auojaq Jo uo ppaJO 3o uaua-1 supjo saoisiAoud aql gllm aoueildwoo 1o►ns ut paluasaud sl3EuQ Ile Jouoq of saaJBe Janssl '(a1e(I) 8LOZ•LE-ZL uo (aulu) 'W'd0£:b le ssauppe s,uanssl le ssauisnq;o asolo aql it, sandxa lipau03o uaua-1 s►U •gZdQ NolLV-dldXg IRREVOCABLE STANDBY LETTER OF CREDIT ISSUER:VISIONBANK OF IOWA 104 CHESTNUT ST AMES,IA 50010-8058 Date of Issue:01.17.2019 Letter of Credit Number: 86 Amount: U.S. $ 8,600.00 ( EIGHT THOUSAND SIX HUNDRED AND N01100 U.S. DOLLARS) For Benefit Of: For Account Of: Beneficiary Name and Address Applicant Name and Address CITY OF AMES THE QUARRY ESTATES LLC 515 CLARK AVE,AMES,IA 50010 100 6TH ST AMES,IA 50010 LETTER OF CREDIT. Issuer establishes this Irrevocable Standby Letter of Credit (Letter of Credit) in favor of Beneficiary in the amount indicated above. Beneficiary may draw on this Letter of Credit with a Draft (or Drafts, if the maximum number of drawings is greater than one) together with the documents described below. Each Draft shall be signed on behalf of Beneficiary and be marked "Drawn under [Issuer name] Letter of Credit No. [Letter of Credit number] dated [Letter of Credit date]." Drafts must be presented at Issuer's address shown above on or before the Expiration Date. The presentation of any Draft shall reduce the Amount available under this Letter of Credit by the amount of the Draft. This Letter of Credit sets forth in full the terms of Issuer's obligation to Beneficiary. This obligation cannot be modified by any reference in this Letter of Credit, or any document to which this Letter of Credit may be related. This Letter of Credit expires on the Expiration Date. DRAWINGS. ❑ Partial drawings shall not be permitted under this Letter of Credit. ® Partial drawings are permitted. The maximum number of drawings that may be made is DOCUMENTS. Each Draft must be accompanied by the following, an original and two copies except as stated: ❑ The original Letter of Credit, together with any amendments. ❑ A sight draft drawn by Beneficiary on Issuer. ® A signed statement by Beneficiary including the following statement: DRAWN UNDER IRREVOCABLE STANDBY LETTER OF CREDIT#86 DATED JANUARY 17,2019,FOR THE ACCOUNT OF THE QUARRY ESTATES,LLC. ❑ Other documents: Issuer shall be entitled to accept a draft and the documentation described above, as required by the terms of this Letter of Credit, from any person purporting to be an authorized officer or representative of Beneficiary without any obligation or duty on the part of Issuer to verify the identity or authority of the person presenting the draft and such documentation. SPECIAL INSTRUCTIONS:THIS LETTER OF CREDIT IS FOR THE USE AND BENEFIT OF THE QUARRY ESTATES LLC TO SECURE MAINTENANCE AND OPERATION COSTS OF THE CONSERVATION AREA. 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I'll let you know by the end of the day if the LOC needs to be renewed or released. The $8,000 513 stormwater LOC will need to be renewed since I still have not received any as-built information. Thanks, Nathan Willey, P.E. Civil Engineer 11 n willey@city.ames.ia.us Office:515.239.5436 I Fax: 515.239.5404 City Hall,515 Clark Avenue I Ames, IA 50010 Ark-, C 11, 11 0 F e s www.CityofAmes.org I Caring People" Quality Programs^ Exceptional Service" -----Diane R Voss/COA wrote: ----- To: Nathan Willey/COA@COA From: Diane R Voss/COA Date: 12/26/2018 03:05PM Subject: Re: LOCs: Quarry Estates The$8,600 LOC says that it is"to secure maintenance and operation costs of the Conservation Areas." On the estimate, it says"Prairie Establishment and Management." The first LOC I received was dated in November 2015. 1 am assuming it was required with the 1 st Addition, but I am not sure. Diane Voss, City Clerk/Records Manager P. O. Box 811 Ames, Iowa 50010 (515) 239-5105 Nathan Willey---12/26/2018 02:32:25 PM---Hi Diane, Christmas was good, hope yours was too! From: Nathan Willey/COA To: Diane R Voss/COA@COA Date: 12/26/2018 02:32 PM Subject: Re: LOCS: Quarry Estates Page 1 of 2 Updated LOC information Nathan Willey to: Diane R Voss 1 1/01/201 8 03:05 PM Cc: John C Joiner, Tracy Warner Hide Details From: Nathan Willey/COA To: Diane R Voss/COA@COA Cc: John C Joiner/COA@COA, Tracy Warner/COA@COA 4 Attachments Quarry Estates 1st-Partial Release 5.docx Quarry Estates I st- Partial Release 5.pdf ,,� IW Village Park 1st- Partial Release#2.docx Village Park 1st- Partial Release#2.pdf Hi Diane, I have the following updates on the LOC's up for renewal in November: 1. The Core (4415 Lincoln Way) for $104,000 for Chapter 5B: Have been notified that they need to provide maintenance security, completed as-builts, and complete a couple stormwater punch list items 2. Quarry Estates 1 st Addition for $8,000 for Chapter 5B: Have been notified that they need to provide maintenance security and completed as-builts, no response yet 3. Mortensen Heights Plat 2 for $238,267 for Chapter 5B: Have been notified that they need to provide maintenance security and completed as-builts, no response yet 4. Quarry Estates 1st Addition reduced from $184,140 to $71,400 (see attached certification letter) 5. Village Park 1st Addition reduced from $207,717 to $39,318 (see attached certification letter) Please let me know if you have any questions. Thank you, Nathan Willey, P.E. Civil Engineer 11 nwilley@city.ames.im us Office: 515.239.5436 1 Fax: 515.239.5404 City Hall,515 Clark Avenue I Ames, IA 50010 file:///C:/Users/diane.voss/AppData/Local/Temp/notesFFF692/—webO644.htm 11/1/2018 Re: LOCs: Quarry Estates Diane R Voss to: Nathan Willey 12/26/2018 03:05 PM Bcc: Diane R Voss The$8,600 LOC says that it is"to secure maintenance and operation costs of the Conservation Areas." On the estimate, it says"Prairie Establishment and Management." The first LOC I received was dated in November 2015. 1 am assuming it was required with the 1st Addition, but I am not sure. Diane Voss, City Clerk/Records Manager P. O. Box 811 Ames, Iowa 50010 (515) 239-5105 Nathan Willey Hi Diane, Christmas was good, hope yours was... 12/26/2018 02:32:25 PM From: Nathan Willey/COA To: Diane R Voss/COA@COA Date: 12/26/2018 02:32 PM Subject: Re: LOCS:Quarry Estates Hi Diane, Christmas was good, hope yours was too! I have not received any as-builts for stormwater for Quarry Estates. Please remind me which addition these LOC's are for. I'll have to ask planning about the conservation LOC and get back to you. Thanks, Nathan Willey, P.E. Civil Engineer 11 nwilley@city.ames.im us Office:515.239.5436 1 Fax: 515.239.5404 City Hall,515 Clark Avenue I Ames, IA 50010 ,_ : mak, A [,*,*n le : www.CityofAmes.ore 1 Caring People-Quality Programs" Exceptional Service -----Diane R Voss/COA wrote: ----- To: Nathan Willey/COA@COA From: Diane R Voss/COA LOCS: Quarry Estates Diane R Voss to: Nathan Willey 12/26/2018 02:09 PM Bcc: Diane R Voss Hi Nate: I hope you had a wonderful Christmas! I received a new LOC in the amount of$4,000 from Kurt Friedrich; it is to serve as the 5B Maintenance Bond for Quarry Estates. This was the one that was formerly in the amount of$8,000. Did you receive and approve the as-builts? Also, The LOC in the amount of$8,600 for Maintenance/Operations for the Conservation Area is due to expire on December 31, 2018. Can you please give me an update on that one? Thank you! Diane Voss, City Clerk/Records Manager P. O. Box 811 Ames, Iowa 50010 (515) 239-5105 [777, Quarry estates conservation LOC Nathan Willey to: Diane R Voss 12/27/2018 01:49 PM Hi Diane, Jake reported back to me that some of the prairie areas are seeded and some are not. Therefore, please have the $8,600 LOC renewed in full. Let me know if you have any questions. Thank you, Nathan Willey, P.E. Civil Engineer 11 n willey@city.ames.im us Office:515.239.5436 1 Fax: 515.239.5404 City Hall, 515 Clark Avenue I Ames, IA 50010 X 1400� IT ' O i"k A ro"4 610 w4l, e s www.CityofAmes.org 1 Caring People-Quality Programs Exceptional Service Hi Diane, Christmas was good, hope yours was too! I have not received any as-builts for stormwater for Quarry Estates. Please remind me which addition these LOC's are for. I'll have to ask planning about the conservation LOC and get back to you. Thanks, Nathan Willey, P.E. Civil Engineer 11 nwilley@city.ames.ia.us Office:515.239.5436 1 Fax: 515.239.5404 City Hall, 515 Clark Avenue I Ames, IA 50010 CITY OF -*,�A e s', www.CityofAmes.ors ! ^ Caring People"Quality Programs" Exceptional Service" -----Diane R Voss/COA wrote: ----- To: Nathan Willey/COA@COA From: Diane R Voss/COA Date: 12/26/2018 02:09PM Subject: LOCS: Quarry Estates Hi Nate: I hope you had a wonderful Christmas! I received a new LOC in the amount of$4,000 from Kurt Friedrich; it is to serve as the 5B Maintenance Bond for Quarry Estates. This was the one that was formerly in the amount of$8,000. Did you receive and approve the as-builts? Also, The LOC in the amount of$8,600 for Maintenance/Operations for the Conservation Area is due to expire on December 31, 2018. Can you please give me an update on that one? Thank you! Diane Voss, City Clerk/Records Manager ; T Re: Quarry Estate SBLOC Diane R Voss to: Kurt Matthewson 01/03/2019 05:05 PM Bcc: Diane R Voss Hi Kurt: According to City Engineer Nate Willey and Storm Water Specialist Jake Moore, some of the prairie areas are seeded and some are not. Therefore, Nate Willey informed me that the LOC should be renewed in the full amount of$8,600. 1 hope you enjoyed the holidays and have a great year in 2019! Diane Voss, City Clerk/Records Manager P. O. Box 811 Ames, Iowa 50010 (515) 239-5105 "Kurt Matthewson" Good morning Diane. Hope all is well and Sant... 01/03/2019 10:37:22 AM From: "Kurt Matthewson"<kurtm@visionbank.com> To: "'Diane R Voss"'<DVoss@city.ames.ia.us> Date: 01/03/2019 10:37 AM Subject: Quarry Estate SBLOC Good morning Diane. Hope all is well and Santa treated you well! Have a question on LOB#86 that expired on 12/31/2018. Do we need to renew/extend that particular note or are we okay with letting it expire? Tt t QUARRY ESTATES 5506 5775 11.2126/'2017 0.00 0.00 5.5000 12/ 1/ 01U Thanks in advance. T. Kurt Matthewson I Market President VisionBank® 104 Chestnut I Ames, IA 50010 Ph: (515) 956-4343 x 1118 Fax: (515) 956-4344 Cell: (515) 314-3828 See what we can do for you.TM Ames I Boone I Grimes I Huxley I Ogden This email, including attachments, is covered by the Electronic Communications Privacy Act, 18 U.S.C.2510-2521, is confidential, and may be legally privileged. If you are not the intended recipient,you are hereby notified that any retention,dissemination, distribution,or copying of this communication is strictly prohibited. Please reply to the sender that you have received the message in error,and then please delete it. Re: Quarry Estates LOC 86 Diane R Voss to: Nathan J. Buss 01/28/2020 10:00 AM Bcc: Diane R Voss Hello Mr. Buss: I checked with Nate Willey prior to the LOC expiration date. He believed it would be released, but didn't get back to me immediately. I followed up with him yesterday, and he told me that we could release it. Unfortunately, it was too late for to get it on the Agenda for tonight's Council meeting; however, it will be on the February 11th Agenda. There is no need to renew it. As soon as it is released, I will mail it back to you. Diane Voss, City Clerk/Records Manager P. O. Box 811 Ames, Iowa 50010 (515) 239-5105 "Nathan J. Buss" Diane, I am checking up on LOC #86 for Quarry... 01/28/2020 09.47:01 AM From: "Nathan J. Buss"<nbuss@visionbank.com> To: "'Diane R Voss"' <DVoss@city.ames.ia.us> Date: 01/28/2020 09:47 AM Subject: Quarry Estates LOC 86 Diane, I am checking up on LOC#86 for Quarry Estates. I noticed it matured last week. Do you want us to close that out or do we need to extend it? Thank you! Nathan J. Buss I Vice President I Commercial Banker VisionBank® 104 Chestnut I Ames, IA 50010 Ph: (515) 956-4343 x 1101 Fax: (515) 956-4344 See what we can do for you.TM Ames I Boone I Grimes I Huxley I Ogden This email, including attachments, is covered by the Electronic Communications Privacy Act, 18 U.S.C. 2510-2521. is confidential, and may be legally privileged. If you are not the intended recipient,you are hereby notified that any retention,dissemination, distribution, or copying of this communication is strictly prohibited. Please reply to the sender that you have received the message in error,and then please delete it.