Sent: To: Subject:

Wednesday. May 26. 20101:51 PM James Horan, Sarah Murray RE: BVC Land Development - Meadows Subdivision

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instead of the

crtunate-I y the amount released to them was $757,000 leaving

1n

bond amount of

593,000
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Currently the town is holding $593,000 totaf of $601, 173. 10.

Joanne Lown
Town of Hyde Park Bookkeeper 4383 Albany Post Road Hyde Park, NY 12538

cash but interest

accumulated to date for

(845)229-5111 Ext (845)229-0831 Fax

102

Message----From: James Horan fmailto: jhoranGvsrp.com] Sent: Wednesday, May 26, 2010 1:45 PNI To: Joanne Lown; Sarah Murray Subject: BVC Land Development -- Meadows Subdivision
Joanne:

-----Original

Please confirm the amount that the Town i-s presentty holding. A fetter clated March 25, 2470 (copy attached) indicates that the Town ls holdlng $593,000.00 in cash.

Resolution 3:24-3 of 2008 (attached) indi-cates that the security amount requlred to held was reduced to $757, 00.00.
wel-I.

be

Pfease provide me with the amount that is being held by the Town. If we have a copy of the check or wire authorization showing the amount refeased that woufd be helpfu_I as

1135 Route 9 Wappinqers Falfs, New York 12590

James P. Horan, trsq. Vergllis Stenger Roberts Davis e Diamond LLp

Tel: (845) 298-2A0A Fax: (845) 298-2842

The information contained in this message and attachments, if any, is privileged and/or confidentiaf information intended only for the use of the intended reciprent. If the reader of this message 1s not lhe intended recipient, you are hereby .rotified that any dissemination, distribution or copying of this commun,ication is strictly prohibited. ff you have received this communication in error/ please immediatety nolrty us by telephone (845) 298-2000 and delete afl electronic copies of this message and attachments, if any, (wlthout retaining a copy thereof) . Please destroy or return any printed copies of this message and attachments, if any via US. postal- Service.

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RESOLUTION 3:24

3 OF 2OO8

RESOLUTION AUTHORIZING THE REDUCTION OF THE FINANCIAL SECURITY FOR MEADOWS SUBDIVISION WHEREAS, the Town Board of the Town of Hyde Park is in receipt of an updated financial security calculation from the Town Engineer for the Meadows Subdivision project reflecting work done to date; and WHEREAS, the original financiai security posted was for $1,350,000.00; and WHEREAS, the updated financiai security calculation indicates that $592,394.20 has been completed, leaving a balance of $754,599.50; and WHEREAS, the Town Engineer has recommended that the new financial security amount be set at $757,000.00.
NOW, THEREFORE, BE IT RESOLVED, by the Town Board of the Town of Hyde Park, the Town hereby authorizes the reduction of the financial security for Meadows Subdivision to $757,000.00.

MOTION: Councilman Perkins SECOND: Councilwoman Hail

ROLL CALL VOTE BY TOWN CLERK:

Councilman Linville Councilwoman Hail Councilwoman Black Councilman Perkins Supervisor Delafield

Aye Aye

Absent
Aye

Aye

CARRIED

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Kristen M. Cannizzaro
Executive Administrative Assistant

TD Bank,

America's Most Convenient Bank

555 Hudson Valley Avenue/Suite 105

New Wndsor, NY 12553 Mailstop #NY088-

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