HomeMy WebLinkAboutPD-317-87DN: 317-87
,DIY µM11 (1(1411 I
TOWN OF NEWCASTLE
REPORT
NE~7ING: General Purpose and Administration Committee
~~: Monday, December 21, 1987
T #: PD-317-87 FILE #: 10M-797
CT: WHITECLIFFE SUBDIVISION
DEVELOPMENT AGREEMENT
REQUEST FOR REDUCTION OF LETTER OF CREDIT
OUR FILE: lOM-797
RECOh91`~EIdDAT IONS
~~~~
Res. #
By-Law #
It is respectfully recommended that the General Purpose and Administration
Committee. recommend to Council the following:
1. THAT Report PD-317-87 be received; and
2. THAT the recommendations of Staff Report PD-305-87 (attached) be approved.
BACKGROUND AND COMMENTIS:
At the General Purpose and Administration Committee meeting of December 7, 1987,
the Committee considered Staff Report PD-305-87 (attached) in respect of a request
for a reduction of Letter of Credit in respect of the Whitecliffe subdivision in
Courtice. Said Report recommended approval of the reduction of the letter based
upon the Wor)cs Department review of works completed to date and works outstanding.
The Committee resolved to table the matter pending further review by Central Lake
Ontario Conservation Authority and the Town of certain works related to erosion
control along the Farewell Creek.
At the Council Meeting of December 14, 1987, Staff provided a verbal report in
respect of this matter, noting that the Ministry of Natural Resources had granted
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REPORT NO.: PD-317-87 PAGE 2
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permission to commence the works in a specified timeframe and that the To4m was
generally satisfied with the proposed works.
On December 16, 1987 Staff discussed the situation with Mr. Chris Conti of the
Central Lake Ontario Conservation Authority who indicated that, subject to
certain minor modifications, Authority Staff would be authorizing commencement
of these works. Staff note that, although these works are not covered by the
Town's Subdivision Agreement, the requested reduction incorporates a holdback
sufficient to cover the works.
Accordingly, Staff are satisfied that adequate securities are held to assure
that these works are carried out in accordance with the approvals granted by
the Ministry of Natural Resources, the Town, and the Conservation Authority.
Accordingly, we are recommending that the reduction in the Letter of Credit
addressed by Staff Report PD-305-87 be approved.
Recommended for presentation
to the Committee
~(
Lawrence Kotseff
Chief Ad istrative Officer
TTE*jip
*Attach.
December 16, 1987
. DN: ° 305 .87_ s +., ~~i ~ ~~/
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Res_ #
By-Law #
P'EF~ING: General Purpose and Administration Committee
~~: Monday, December 7, 1987
REPOT #~ PD-305-87 FIIF #: lOM-797, 18T-85032 & 18T-84029
SU~CT: WHITECLIFFE SUBDIVISION
DEVELOPMENT AGREEMENT
REQUEST FOR REDUCTION OF LETTER OF CREDIT
RECOMMENDATIONS:
It is respectfully recommended that the General Purpose and Administration
Committee recommend to Council the following:
1. THAT Report PD-305-87 be received; and
2. THAT the request submitted by D.G. Biddle and Associates Limited, on behalf
of Whitecliffe Development, for a reduction in the Letter of Credit from
$2,375,237.20 to $1,132,769.57, in consideration of the works completed, be
approved; and
3. THAT the Owner be so advised.
BACKGROUND AND COMMENT:
Within the Development Agreement between the Town of Newcastle and Betty Jo King
and Archie Earl King, Paragraph 3.11 entitled "Requirements for Release of
Performance Guarantee" lists the obligations to be completed prior to the releasse
of any portion of a Performance Guarantee as provided. To that end, Staff would
note that Subparagraph 4 states that the Town may, from time to time, reduce the
amount of the value of the Performance Guarantee to reflect the progress of the
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REPORT NO.:~ PD-305-87
PAGE 2
works required to an amount equal to the value of the uncompleted works plus
10$ of the value of the completed works on approval by the Director of a
Progress Certificate prepared by the Owner's Engineer.
Staff would note that in consideration of the above-noted terms, a request has
been submitted by D.G. Biddle and Associates Limited on behalf of the Owners,
for a reduction in the present Letter of Credit to reflect the works completed.
Staff would advise that the Works Department, in commenting, acknowledged that
the necessary works have been completed in accordance with the provisions of
the Subdivision Agreement and Town practices to permit the reduction in the
Letter of Credit as requested.
As Committee is aware, Council, at their meeting of November 23, 1987 by
resolution, required that any reductions in Letters of Credit within the
Courtice Urban Area are to proceed only by resolution of Council. Accordingly
and in consideration of the request submitted and confirmation that the works
have been completed to Town standards, Staff would have no objections to the
reduction as contained within the recommendations of said Report.
Respectfully submitted,
T.T. Edwards, M.C.I.P.
Director of Planning
Recommended for presentation
to the Committee
~~~f~.
-----------------------------
Lawrence E. Kotseff
Chief Administrative Officer
LDT*TTE*jip
*Attach.
November 25, 1987
CC: D.G. Biddle & Associates
Consulting Engineers
96 King Street East
OSHAWA, Ontario
L1G 1B6
CC; Halminen Homes
30 Caristrap Street
BOWMANVILLE, Ontario
L1C 3Y7