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ROAD DEDICATION\Letter of Credit—Release to Michaels Group—Burnt Hills Dr and Wooden Lane— 11-4-19
RESOLUTION AUTHORIZING RELEASE OF LETTER OF CREDIT IN
CONNECTION WITH DEDICATION OF BURNT HILLS DRIVE AND
WOODEN LANE IN THE BURNT HILLS SUBDIVISION
RESOLUTION NO.: ,2019
INTRODUCED BY:
WHO MOVED FOR ITS ADOPTION
SECONDED BY:
WHEREAS, by Resolution No.: 411,2015 the Queensbury Town Board authorized the
dedication of Burnt Hills Drive and Wooden Lane in the Burnt Hills Subdivision to the Town of
Queensbury and at the time of dedication, the developer, JD Michaels Holdings, LLC, provided the
Town with a$91,000 Letter of Credit with The Adirondack Trust Company to ensure placement of
the top coat on such roads, and
WHEREAS, the Town's Highway Superintendent has advised the Town Board that the
roads have been completed to the Highway Superintendent's satisfaction and Highway
Department's specifications and therefore has requested that the Town Board authorize the release
of the Letter of Credit,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes the release of the Letter
of Credit to JD Michaels Holdings, LLC in connection with the dedication of Burnt Hills Drive and
Wooden Lane in the Burnt Hills Subdivision, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Highway
Superintendent to provide a certified copy of this Resolution to JD Michaels Holdings, LLC and/or
The Adirondack Trust Company and the Town Supervisor, Town Highway Superintendent and/or
Town Budget Officer to take such other and further action necessary to effectuate the terms of this
Resolution.
Duly adopted this 4th day of November, 2019, by the following vote:
AYES :
NOES :
ABSENT:
Town of'Oueeiishrrry David Duel!
Highway , ;?; ;,.., Highway Superintendent
Department t (515) 761-52 12
7-1? Bay Road — Queensbury, NY
280
�--- �_ Mark Benware
Phone: (518) 761-821 1 Deputy Highway
Fax: (.> lei) 715-1166 Superintendent
(518) 761-8210
To: Queensbury Town Board
From: David Duell
Date: October 18, 2019
Re: JD Michaels Holdings, LLC
I have inspected Burnt Hills Drive and Wooden Lane in the Burnt Hills Subdivision,
so at this point and time to the best of my knowledge it meets the specification
set for by the Town of Queensbury Highway Dept. I hereby recommended the
return of the letter of credit in the amount of$91,000.00 to the JD Michaels
Holdings, LLC.
Respectfully
cD
David Duell
Highway Superintendent
AMEND IRREVOCABLE LETTER OF CREDIT NO. 15-29
RECEIVED
Town of Queensbury
OCT Q3 2018
Highway Department
November 27,2018
Beneficiary: Applicant:
Town of Queensbury JD Michaels Holdings, LLC
Highway Department 1 Marions Way
742 Bay Road Mechanicville, NY 12118
Queensbury, NY 12804
Gentlemen:
Please be advised that our Irrevocable Letter of Credit No. 15-29, dated November 27, 2015, is
hereby amended as follows:
1. The expiration date shall be extended from November 27, 2018 to November 27,2019.
All other terms and conditions of Letter of Credit No. 15-29 remain unchanged.
rely,
John . Murphy
Senior ice President
473 Broadway AD I R O N DAC K (518)584-5844
Saratoga Springs,NY 12866 AdirondackTrust.com
TRUST COMPANY
IRREVOCABLE LETTER OF CREDIT NO. 15-29
e` N
sir:
W,r "?
F
''' THE ADIRONDACK TRUST COMPANY
�E` f i �r 1
�; !a `� z 473 BROADWAY • SARATOGA SPRINGS, NY 12866.0326
_s � !l =
November 27,2015
Beneficiary: Applicant:
Town of Queensbury JD Michaels Holdings, LLC
Highway Department 10 Blacksmith Drive
742 Bay Road Malta,NY 12020
Queensbury, NY 12804
Gentlemen:
We hereby establish our Irrevocable Letter of Credit No. 15-29 in favor of the Town of Queensbury for
the account of JD Michaels Holdings, LLC in the amount of Ninety One Thousand and 00/100
($91,000.00) Dollars, available by your draft at sight accompanied by a certified written statement from
the Town of Queensbury made by an authorized official stating that JD Michaels Holdings, LLC is in
default of performance pertaining to top coat in the Burnt Ridge Subdivision in the Town of Queensbury.
This letter of credit will expire on November 27, 2017 and may be reduced or canceled at any time prior
to that date upon receipt by The Adirondack Trust Company of a written request by an authorized
official of the Town of Queensbury.
It is a condition of this letter of credit that is shall be deemed automatically extended without amendment
for one (1) year from the present or any future expiration dated hereof, unless at least sixty(60)days
prior to any such date we shall notify you in writing at the above address via courier,express or certified
mail return receipt requested,that we elect not to renew this letter of credit for any such additional
period.
Your drafts must be accompanied by your dated statement, purportedly signed by an
officer/representative indicating name and title stating: "The top coat in the Burnt Ridge Subdivision in
the Town of Queensbury,New York has not been completed."
Once the work has been completed and written notification has been received from the Town of
Queens bury stating that the required top coat meets the Town's specifications,the letter of credit can be
canceled.
Except as otherwise expressly stated herein, the Irrevocable Letter of Credit No. 10-05 is subject to the
Uniform Customs and Practice for Documentary Credits (2007 Revision), International Chamber of
Commerce Publication No. 600 and where not applicable, the Irrevocable Letter of Credit is governed by
the laws of the State of New York.
Very truly yours,
Lucile M. Lucas
Vice President
518 584.5844 • FAX 518 584-1107 - www.adirondacktrust.com
RESOLUTION ACCEPTING DEDICATION OF BURNT HILLS DRIVE
AND WOODEN LANE IN BURNT RIDGE SUBDIVISION
RESOLUTION NO.: 411,2015
INTRODUCED BY: Mr. Anthony Metivier
WHO MOVED ITS ADOPTION
SECONDED BY: Mr. Brian Clements
WHEREAS, JD Michaels Holdings, LLC (Developer) has offered a deed to the Town of
Queensbury to dedicate Burnt Hills Drive and Wooden Lane in the Burnt Ridge Subdivision to the
Town of Queensbury as more particularly described in a survey map prepared by VanDusen &
Steves Land Surveyors, LLC dated September 25, 2015, and
WHEREAS, the Town Highway Superintendent has inspected the roads and recommended
their acceptance contingent upon the Developer completing the top coat of the black-top within two
years of the date of acceptance or by November 16th, 2017 and if applicable, all drainage easements
being in place, and
WHEREAS, the Developer will provide the Town with a $91,000 Letter of Credit or
deposit into the Town's escrow account to ensure placement of the top coat on the road by
November 16`h, 2017 consistent with the Town Highway Superintendent's requirements, and
WHEREAS,the Town Water Superintendent and Wastewater Director has indicated that an
inspection has been made of the water mains lines and appurtenances installed in the Burnt Ridge
Subdivision and the installation has been made in accordance with the requirements of the Town
Water Department, with the Developer to be responsible for the installation's repair and
maintenance for one year from the date of Town Board approval of the road dedication or through
November 16`h,2016,and
WHEREAS, the Town's Zoning Administrator has confirmed that his office inspected
Burnt Hills Drive and Wooden Lane and they were found to be in general compliance with the
requirements of his office except that front property corners, permanent survey monuments and
street name signs have not yet been installed,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby accepts and approves the dedication
of Burnt Hills Drive and Wooden Lane in the Burnt Ridge Subdivision contingent upon (1) the
Town's receipt of the required $91,000 Letter of Credit in form acceptable to Town Counsel or
deposit into the Town's escrow account as delineated in the preambles of this Resolution, (2) the
Town Highway Superintendent confirming that front property corners, permanent survey
monuments and street name signs have been installed, and(3)title insurance being provided to the
Town in form acceptable to Town Counsel, and
BE IT FURTHER,
RESOLVED, that the Town Board authorizes and directs the Town Supervisor to execute,
sign and affix the Town seal to any and all documents necessary to complete the transaction, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs JD Michaels Holdings,
LLC to record the deed in the Warren County Clerk's Office, after which time the deed shall be
properly filed and maintained in the Queensbury Town Clerk's Office, and
BE IT FURTHER,
RESOLVED, that the Town Board further authorizes and directs the Town Clerk to add the
roads to the official inventory of Town Highways as follows:
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Name: Burnt Hills Drive Road Number:2015-5
Description: Beginning at Luzerne Road and continuing in a northerly direction a
distance of 2,220±' and 0±hundredths of a mile and ending at the existing,
previously accepted portion of Burnt Hills Drive.
Feet: 2,220±' and 0±hundredths of a mile
Name: Wooden Lane Road Number:2015-6
Description: Beginning at Burnt Hills Drive and continuing in a southwesterly direction a
distance of 1,560±' and 0±hundredths of a mile and ending at the newly
Constructed portion of Burnt Hills Drive.
Feet: 1,560±' and 0±hundredths of a mile
Duly adopted this 16th day of November, 2015, by the following vote:
AYES : Mr. Metivier, Mr. Clements, Mr. Irish, Mr. VanNess, Mr. Strough
ABSENT: None
NOES : None
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