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HomeMy WebLinkAbout10128RESOLUTION NO. 10128 A RESOLUTION ACCEPTING A WARRANTY DEED FROM REGENCY RIDGE DEVELOPMENT CO., LTD, A COLORADO LIMITED LIABILITY COMPANY, FOR PURPOSES OF A STORMWATER DETENTION FACILITY BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The warranty deed granted by Regency Ridge Development Co., LTD, dated May 7, 2004, a copy of which is attached hereto, after having been approved as to form by the City Attorney, is hereby approved and accepted. SECTION 2_ The City Clerk is directed to record said warranty deed in the office of the Pueblo County Clerk and Recorder. INTRODUCED May 24, 2004 Background Paper for Proposed RESOLUTION A ZO - Y-/ 1012,? AGENDA ITEM # 10 DATE: MAY 24, 2004 DEPARTMENT: STORMWATER UTILITY DIRECTOR — DENNIS MARONEY, P.E. TITLE A RESOLUTION ACCEPTING A WARRANTY DEED FROM REGENCY RIDGE DEVELOPMENT CO., LTD, A COLORADO LIMITED LIABILITY COMPANY, FOR PURPOSES OF A STORMWATER DETENTION FACILITY ISSUE Should the City Council accept a warranty deed from Regency Ridge Development Co., LTD., a Colorado Limited Liability Company, and take over the maintenance of the stormwater detention facility located thereon. RECOMMENDATION Approval of this Resolution. BACKGROUND The stormwater detention facility located on this parcel of property was constructed by the developer of Regency Ridge Subdivision, I" Filing, and serves approximately 360 residential home sites. The facility was built in 1995 and enlarged in 2000. Detention facilities serving residential lots where a home owner's association does not exist to operate and/or maintain common interests will be maintained by the City, and stormwater utility credits will not be given. FINANCIAL IMPACT The estimated annual cost of maintenance of this facility is $1,750. The residential area served by the facility generates approximately $15,300 annually in Stormwater user fees.