Item Coversheet

County of El Paso
Agenda Item Details

 

Item Title:Planning & Development - Riverview Estates Partial CD Release - 2020-0717
Submitted By:Jose M. Landeros, Director, Planning & Development Department (915) 546-2015
Subject:Approve and authorize the County Judge to sign the partial release for the certificate of deposit for Riverview Estates Subdivision in the amount of $9,000 related to completed improvements for on-site sewage facilities.  (Contract No. 2020-0717)
Background:

A financial instrument, either letter of credit, bond or certificate of deposit, is required by the County Subdivision Construction Agreement to guarantee certain public improvements be made by a land owner or developer who wishes to record and file a subdivision prior to the installation of these facilities. The purpose of the Riverview Estates certificate of deposit is to assure the installation of required on-site or other sewage facilities for the property described as:

 

Riverview Estates Unit 2, Block 1

Lots 1, 2, 3, and 4, El Paso County Texas.

 

The County has determined that 75 percent of the improvements have been made. Therefore, the County is writing to the CD holder (West Star Bank) to request that the bank release $9,000 of the CD and retain $3,000 until the County advises that all of the improvements have been completed.

Fiscal Impact:None
Recommendation:Approve and authorize the County Judge to sign the partial release for the certificate of deposit for Riverview Estates Subdivision in the amount of $9,000 related to completed improvements for on-site sewage facilities.  (Contract No. 2020-0717)
Prior Action:N/A
Strategic Plan:..
Strategic Plan Information:
ATTACHMENTS:
DescriptionUpload Date
Riverview Estates CD Release Letter9/15/2020
CA Approval Form 2020-07179/15/2020
Original CD Letter from 20139/15/2020