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Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - June 17, 2014
June 17, 2014 - Regular Meeting
Agenda Item #68


Subject
Bonds - Ranch Lake Plaza Lot 1 - Release Private Improvements Agreement, Accept Private Improvements Extension Agreement, Accept Surety Bond Verification Certificate

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 Required Improvements Agreement and Temporary Construction Easement for Private Improvements – Replacement Trees;
  • Accept and Execute Required Improvements Agreement and Temporary Construction Easement for Private Improvements – Replacement Trees with Mavard Trading Limited; and
  • Accept Surety Bond No. 1088476 Verification Certificate in the Amount of $12,318.80.


Enabling/Regulating Authority
N/A

Background Discussion

On February 1, 2005, the Board of County Commissioners accepted a Private Improvements Agreement securing replacement trees in the amount of $93,176.00.  Since that time the developer has been selling lots in this project and has complied with all the required private improvements.  This project has one remaining lot.  Due to the economic conditions and existing use restrictions, the property owner has not been able to finalize a transaction with a developer for this vacant portion.  The developer is requesting an extension of this private improvements agreement in order to complete those required improvements once the lot has been purchased.  The Public Works Department has reviewed the request and is in agreement with the Developer's request.

This agenda item is to extend the agreement and security to ensure the developer is not in default with the agreement previously provided.  Per Resolution R-14-02 adopted March 25, 2014, we will contact the developer to obtain a new Engineer of Record’s cost estimate reducing this private improvements agreement to the approved 130%.



County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records

Please contact Jane Oliver at Ext. 7613 when all original, executed documents are ready for pickup



Cost and Funds Source Account Number and Name
N/A

Amount and Frequency of Recurring Costs
N/A


Attachment:  Ranch Lke Plaza Lot 1 Ext Agree.pdf
Attachment:  Ranch Lke Plaza Verification Cert.pdf