www.mymanatee.org
Manatee County Government Administrative Center First Floor, Commission Chambers 10:00 a.m. - April 22, 2014
REVISED April 22, 2014 - Regular Meeting
Agenda Item #36


Subject
Bonds - Pope Road, Phase 2A, and Malachite Drive, Phase 2 - Release Performance Agreement and Surety Bond; Accept Defect Security and 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 Required Improvements Agreement (performance agreement) - Water, Sanitary Sewer, Drainage, and Paving Improvements; and
  • Release Surety Bond No. 175124 and any associated Riders in the amount of $3,326,353.42.
  • Accept, Execute, and Record Agreement in Conjunction with Surety Bond (Attachment “A”) as Defect Security Warranting Required Improvements (defect security) with SMR North 70, LLC; and
  • Accept and Execute Surety Bond No. 1025781  in the amount of $242,282.12.


Enabling/Regulating Authority
N/A

Background Discussion

On March 26, 2014, the Board of County Commissioners accepted a Performance Agreement to ensure the water, sanitary sewer, drainage, and paving for this project would be completed.  On March 12, 2014, the development was issued a Certificate of Completion.  The Developer has completed all the required improvements and provided all necessary documentation required by Manatee County in order to release this Agreement and security and accept a three (3) year defect security agreement and security warranting these required improvements.



County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
  1. Please call Jane Oliver at Ext. 7613 when all original, executed documents are ready for pickup.
  2. Payment for recording fees ($27.00) to be provided by the developer.


Cost and Funds Source Account Number and Name
N/A

Amount and Frequency of Recurring Costs
N/A


Attachment:  Pope Rd Ph 2A Malachite Dr Ph 2 Agreement.pdf
Attachment:  Pope Rd Ph 2A Malachite Dr Ph 2 Surety Bond.pdf