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HomeMy WebLinkAboutMessina Conservation Subdivision OFFICE LOCATION: MAI .LING ADDRESS: Town Hall AnnexfitSQ�_ P.O.Box 1179 54375 State Route 25 ® Tya!" Southold,NY 11971 (cor.Main Rd_&Youngs Ave.) Southold,NY Telephone:631 765-1938 www.southoldtow3my.gov PLANNING BOARD OFFICE TOWN OF SOUTHOLD February 6, 2024 , Dino Marra, CPA 16 FFB Marratime Capital V LLC71 15th venue 204 Sea C ffANY 11579 � P® Re: Accept Performance Bond Messina Conservation Subdivision - Street Trees 2425 Laurel Avenue SCTM#1000-55-6-36.1 & 36.2, 56-1-1.1 through1.6 Dear Mr. Marra: The Southold Town Planning Board adopted the following resolution at a meeting held on Monday, February 5, 2024: WHEREAS, on June 5, 2023 the Planning Board granted Final Plat Approval upon the application, and the subdivision map has been filed with the Suffolk County Clerk; and WHEREAS, one of the covenants required that street trees be planted prior to building permits being issued; and WHEREAS, due to the timing of the issuance of building permits, which are expected this winter, planting trees before then is not possible due to it being winter; and WHEREAS, the landowner has requested, and the Planning Board has agreed, to a performance bond being posted to ensure the street trees are planted; and Messina Conservation Subdivision Page 12 February,6, 2024 WHEREAS, on January 22, 2024, the Planning Board reviewed the performance bond estimate provided by the landowner, and agreed to the amount of$20,000 to guarantee the purchase, planting and survival of 36 street trees; and WHEREAS, on February 2, 2024, the applicant submitted a draft Letter of Credit for review with the following language: "IRREVOCABLE STANDBY LETTER OF CREDIT Town of Southold Town Hall Annex 54375 State Route 25 Southold, NY 11971 Re: Marratime Capital V LLC We hereby establish our Irrevocable Standby Letter of Credit No. DRAFT in favor of Town of Southold, hereinafter referred to as "Beneficiary" at the request of Marratime Capital V LLC, hereinafter referred to as "Applicant'; in an amount not to exceed in the aggregate Twenty Thousand and 00/100 ($20,000.00) U.S. Dollars. Funds are available by your draft on us at sight bearing the clause: "Drawn under TD Bank, N. A. Letter of Credit No. DRAFT dated January 31, 2024"and accompanied by the following documents: 1. This original Letter of Credit and any amendments thereto. 2. A statement purportedly signed by the Town Planning Director stating that. "Marratime Capital V LLC has not performed in accordance with the terms and conditions of the declaration of covenants and restrictions between Marratime Capital V LLC and Town of Southold, and filed with the Suffolk County Clerk at Liber D00013200 Page 222, and the approved filed subdivision map on file with the Suffolk County Clerk as File #12281 Messina 80/60 Clustered Conservation Subdivision."Specifically, Marratime Capital V, LLC has failed to plant and maintain thirty-six (36) street trees along Laurel Avenue as shown on the Subdivision Map. The declaration of covenants further requires the tree species to be acceptable to the Planning Board. Marratime Capital V, LLC, agrees,to and shall comply with the aforementioned conditions of the recorded covenants. Messina Conservation Subdivision Page 13 February 6, 2024 It is a condition of this Leiter of Credit that it will be extended automatically without amendment, for additional periods of one (1) year from the present or each future expiration date, unless at least thirty(30) days prior to the current expiration date, we notify you in writing by overnight courier at the above address, that we elect not to l renew this Letter of Credit for said additional period. This Letter of Credit sets forth in full the terms of our undertaking and such undertaking shall not in any way be modified, amended or amplified by reference to any document, instrument or contract referred to herein or in which this Letter of Credit is referred to or to which this Letter of Credit relates, and any such reference shall not be deemed to incorporate herein by reference any document, instrument or contract. We hereby agree that draft(s) drawn under and in compliance with the terns of this Letter of Credit will be duly honored upon receipt of documents as specified above, which may be presented in person or sent via overnight courier at our office located at 6000 Atrium Way, Mt. Laurel, NJ 08054 on or before the expiration date noted above or any extended date. Except so far as otherwise expressly stated herein, this Letter of Credit is subject to the "Uniform Customs and Practice for Documentary Credits (2007 Revision) International Chamber of Commerce, Publication No. 600."and WHEREAS, after review by the Southold Town Attorney's office, the above language was found to be acceptable; therefore be it RESOLVED, that the Southold Town Planning Board will accept the Letter of Credit issued by TD Bank in the amount of$20,000 with the condition that it includes the wording listed above, and recommends same to the Town Board. If you have any questions regarding the information contained in this resolution, please contact the Planning Board Office at (631) 765-1938. espectfully, James H. Rich III Chairman cc: Michael Collins, Town Engineer Denis Noncarrow, Town Clerk OFFICE LOCATION: � w� MAILING ADDRESS: Town Hall Annex �� P.O. Box 1179 54375 State Route 25Southold, NY 11971 (cor. Main Rd. &Youngs Ave.) Southold,NY Telephone: 631 765-1938 www.southoldtownny.gov �CV � PLANNING BOARD OFFICE TOWN OF SOUTHOLD February 6, 2024 Dino Marra, CPA Marratime Capital V LLC 71 15th Avenue Sea Cliff, NY 11579 Re: Accept Performance Bond Messina Conservation Subdivision - Street Trees 2425 Laurel Avenue SCTM#1000-55-6-36.1 & 36.2, 56-1-1.1 through1.6 Dear Mr. Marra: The Southold Town Planning Board adopted the following resolution at a meeting held on Monday, February 5, 2024: WHEREAS, on June 5, 2023 the Planning Board granted Final Plat Approval upon the application, and the subdivision map has been filed with the Suffolk County Clerk; and WHEREAS, one of the covenants required that street trees be planted prior to building permits being issued; and WHEREAS, due to the timing of the issuance of building permits, which are expected this winter, planting trees before then is not possible due to it being winter; and WHEREAS, the landowner has requested, and the Planning Board has agreed, to a performance bond being posted to ensure the street trees are planted; and Messina Conservation Subdivision Page 12 February 6, 2024 WHEREAS, on January 22, 2024, the Planning Board reviewed the performance bond estimate provided by the landowner, and agreed to the amount of$20,000 to guarantee the purchase, planting and survival of 36 street trees; and WHEREAS, on February 2, 2024, the applicant submitted a draft Letter of Credit for review with the following language: "IRREVOCABLE STANDBY LETTER OF CREDIT Town of Southold Town Hall Annex 54375 State Route 25 Southold, NY 11971 Re: Marratime Capital V LLC We hereby establish our Irrevocable Standby Letter of Credit No. DRAFT in favor of Town of Southold, hereinafter referred to as "Beneficiary", at the request of Marratime Capital V LLC, hereinafter referred to as "Applicant", in an amount not to exceed in the aggregate Twenty Thousand and 00/100 ($20,000.00) U.S. Dollars. Funds are available by your draft on us at sight bearing the clause: "Drawn under TD Bank, N. A. Letter of Credit No. DRAFT dated January 31, 2024"and accompanied by the following documents: 1. This original Letter of Credit and any amendments thereto. 2. A statement purportedly signed by the Town Planning Director stating that: "Marratime Capital V LLC has not performed in accordance with the terms and conditions of the declaration of covenants and restrictions between Marratime Capital V LLC and Town of Southold, and filed with the Suffolk County Clerk at Liber D00013200 Page 222, and the approved filed subdivision map on file with the Suffolk County Clerk as File #12281 Messina 80/60 Clustered Conservation Subdivision."Specifically, Marratime Capital V, LLC has failed to plant and maintain thirty-six (36) street trees along Laurel Avenue as shown on the Subdivision Map. The declaration of covenants further requires the tree species to be acceptable to the Planning Board. Marratime Capital V, LLC, agrees to and shall comply with the aforementioned conditions of the recorded covenants. Messina Conservation Subdivision Page February 6 2024 It is a condition of this Letter of Credit that it will be extended automatically without amendment, for additional periods of one (1) year from the present or each future expiration date, unless at least thirty (30) days prior to the current expiration date, we notify you in writing by overnight courier at the above address, that we elect not to renew this Letter of Credit for said additional period. This Letter of Credit sets forth in full the terms of our undertaking and such undertaking shall not in any way be modified, amended or amplified by reference to any document, instrument or contract referred to herein or in which this Letter of Credit is referred to or to which this Letter of Credit relates, and any such reference shall not be deemed to incorporate herein by reference any document, instrument or contract. We hereby agree that draft(s) drawn under and in compliance with the terms of this Letter of Credit will be duly honored upon receipt of documents as specified above, which may be presented in person or sent via overnight courier at our office located at 6000 Atrium Way, Mt. Laurel, NJ 08054 on or before the expiration date noted above or any extended date. Except so far as otherwise expressly stated herein, this Letter of Credit is subject to the "Uniform Customs and Practice for Documentary Credits (2007 Revision) International Chamber of Commerce, Publication No. 600."and WHEREAS, after review by the Southold Town Attorney's office, the above language was found to be acceptable; therefore be it RESOLVED, that the Southold Town Planning Board will accept the Letter of Credit issued by TD Bank in the amount of$20,000 with the condition that it includes the wording listed above, and recommends same to the Town Board. If you have any questions regarding the information contained in this resolution, please contact the Planning Board Office at (631) 765-1938. espectfully, 6. James H. Rich III Chairman cc: Michael Collins, Town Engineer Denis Noncarrow, Town Clerk