Eagle Point-CS 971217The City With A Beautiful Future
P.O. Box 478
Coppell, Texas 75019
214-462-0022
December 17, 1997
Jerry Ragsdale
Republic Property Group, Inc.
8440 Walnut I-rill Lane
85th Floor, Lock Box 3
Dallas, Texas 75231
RE: Eagle Point Escrow Agreement
Dear Mr. Ragsdale:
The extension of Glade Point Drive has now been completed by the subdivision to the east, Riverview
Estates. In June 1993 you escrowed $3,658.66 to cover sawcutting excavation, lime stabilized
subgrade and concrete paving. With interest, that amount has now grown to $4,550.97. While it cost
the developer $12,151.34 to build that section of the roadway, the cost of the items specifically
itemized in your bid list, as an attachment to your escrow agreement, total $4,497.94.
Riverview Estates quantity and costs:
70 LF sawcut remove concrete paving ~ $10
380 CY of excavation ~ $1.50
3.0 tons lime ~ $86
185 SY stabilized subgrade ~ $1.20
169 SY concrete paving $16.26
Total
$ 700.00
$ 570.00
$ 258.00
$ 222.00
$2,747.94
$4,497.94
The difference between the $4,500 and the $12,000 is for $5,000 in drainage improvemems, including
two inlets, $900 in handicap ramps, and $1500 in sidewalks. Those items were not itemized on the
escrow agreement approved by Council. Therefore, a check in the amount of $53.03 is being
processed to you as a retired per the escrow agreement. This is the difference between the actual
construction cost for the bid items included with the escrow agreement and the amount in escrow, plus
accrued imerest.
If you should have any questions please feel flee to contact this office at your convenience.
Sincerely,
Dkector of Engineering and Public Works