2016-2-18 Olivet Planning Board Project File-Lead Agent (34)

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RODENHAUSEN CHALE LLP Confidential Attomey-Client Memorandum February 17, 2016 Page 2 initially filed with the Department of State 3/07/2012 and are both listed as active corporations. The nature of the development served by the water and sewer corporations has changed from a mixed use residential and commercial development to a college campus. We recommend the following: 1. The Dover Knolls Sewage -Works Corp. and the Dover Knolls Water -Works Corp should provide letters of intent to provide sei vice to Olivet Management, acknowledging the availability of capacity at the levels submitted by the applicant and approved by the Town Engineer. a. If Olivet will not be contracting with the Dover Knolls Water -Works Corp. for water service, an explanation should be provided regarding the intended water supply source and whether it leaves the Dover Knolls Water -Works Corp. without a water supply to serve the remaining properties in its service area. Olivet must also identify any permits that will need to be transferred fiom Dover Knolls Water -Works Corp. to Olivet Management. 2. The applicant, the Dover Knolls Sewage -Works Corp. and the Dover Knolls Water - Works Corp should amend the water supply and sewer supply engineering reports to represent the current proposal. The amended engineering reports should discuss rates, which will need to be approved by the Town Board. The revised engineering reports should also provide information on the estimated costs of improvements to assist the Town Engineer in determining the amount of the performance bond and financial guaranty. 3. Submission of performance bonds for construction of improvements and financial guaranty by the applicant, in an amount determined by the Town Engineer, should be made conditions of Planning Board approval. The improvements and bond amounts may be phased. 4. The Town Clerk should confirm that the stock of the Dover Knolls Sewage -Works Corp. has been placed in escrow with the Town Clerk so that the title thereto shall pass to the Town in the event of failure to complete the construction of the sewer system or in the event of an abandonment or discontinuance of the maintenance and operation of the system by the corporation. If stock has not been placed with the Town Clerk, this should be made a condition of Planning Board approval.