www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - August 12, 2014
August 12, 2014 - Regular Meeting
Agenda Item #41


Subject
Bonds - The Masters Avenue Extension - Release Defect Security Agreement, Release Surety Bond

Briefings
None

Contact and/or Presenter Information

Carmen Mosley, Sr. Fiscal Services Manager, 708-7450, Ext. 7209

Jane Oliver, Fiscal Analyst, 708-7450, Ext 7613



Action Requested
  • Release Agreement in Conjunction with Surety Bond (Attachment "A") as Defect Security Warranting Required Improvements – Masters Avenue Extension, a component of Country Club East at Lakewood Ranch (Public); and
  • Release Surety Bond No. 5037037 and any Riders associated with this Surety Bond with Country Club Investors, LLC, in the amount of $182,537.48.


Enabling/Regulating Authority
N/A

Background Discussion

On August 23, 2011, the Board of County Commissioners accepted a Defect Security Agreement warranting Master's Avenue extension which is County maintained.  On June 20, 2014, the developer passed the defect inspection conducted by the Public Works Infrastructure Inspections Division.  The developer has provided all required documents and completed all the required public improvements required by Manatee County in order to release this Agreement and security.



County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
N/A

Cost and Funds Source Account Number and Name
N/A

Amount and Frequency of Recurring Costs
N/A