Bond company agrees to pay $190K for road repairs in Granby Ranch
Following mediation, Granby will get $190,000 for certain road repairs in the Granby Ranch subdivision.
The resolution comes after more than a year of back and forth between the town and insurance companies, but this agreement only covers one of two companies involved with the bonds on long awaited road repairs.
A number of roads in Granby Ranch were never inspected and approved by the town, as is usually the process for subdivisions. Many of these unapproved roads have deteriorated to gravel, while others have massive potholes and patchwork fills.
The previous developer of Granby Ranch agreed to $3.2 million worth of repairs and fixed the worst of the problems in 2019. However, roughly 80% of road repair work has still not been completed.
Granby trustees called in bonds of $1.7 million in road repairs on Dec. 10, 2019, the same meeting in which former Granby Ranch owner Marise Cipriani announced that Granby Ranch would go to the lender in lieu of foreclosure. The lender later filed foreclosure paperwork.
With GP Granby Holdings now the owner of Granby Ranch, it has taken on the responsibility to repair these roads.
Town staff has spent months with the associated insurance companies to obtain the bond payment, culminating in last week’s mediation for one company. The developer also agreed to reimburse the town’s costs for mediation.
The $190,000 worth of bonds will go toward completion of certain roads, but the town is stilling working to obtain the remaining bonds from the other insurance company.
In other business:
• The trustees approved a six-month extension related to an improvement agreement at Granby Station. The developer of Granby Station was not able to complete paving on the town-owned parking area between Granby Station and Midtown Café before it became too cold. While the extension will go through Oct. 31, the developer expects the paving will be completed much sooner.
• The town manager updated the board on discussions with the developer of the Rodeo Apartments. The town has yet to hear back from the developer’s attorney about certain questions. Granby began withdrawing from agreements in October related to the attainable housing project, which the developer never closed on.
• Trustees approved an ordinance expanding the number of people qualified to serve on the public parks committee. To be eligible for this advisory committee, individuals can be residents in the 80446 zip code, own property within town limits or own a business within the town.
• The board approved the budgeted purchase of a 2021 minibus for the recreation department. The cost was $1,458 over budget, but the sale of the oldest bus in the current fleet will likely make up the difference.
• Trustees scheduled a board retreat for April 24.
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