www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - September 9, 2014
September 9, 2014 - Regular Meeting
Agenda Item #23


Subject
United Parks Services Request to Redeem Cash Performance Bonds

Briefings
None

Contact and/or Presenter Information
Charlie Hunsicker, Director
X6001

Action Requested
Approval for United Parks Services to redeem cash performance bonds.

Enabling/Regulating Authority
FS 125

Background Discussion

On May 11, 2010, Manatee County entered into a Franchise License Agreement with United Parks Services, Inc., for concessions at Manatee Beach. The Franchise Agreement required United Parks Services, Inc., to furnish a Performance Bond, Irrevocable Letter of Credit, or cash deposit in the amount of $25,000 for performance of certain capital improvements.

On June 22, 2010, Manatee County entered into a Franchise License Agreement with United Parks Services, Inc., for concessions at Coquina Beach. The Franchise Agreement required United Parks Services, Inc., to furnish a Performance Bond, Irrevocable Letter of Credit, or cash deposit in the amount of $10,000 for performance of certain capital improvements.

On July 16, 2012, the Irrevocable Letters of Credit for the concessions at Manatee Beach and Coquina Beach expired. 

On July 20, 2012, United Parks Services, Inc., issued two checks to Manatee County in the amounts of $25,000 and $10,000 to deposit in lieu of a Performance Bond or renewed Irrevocable Letter of Credit.

On August 14, 2014, Manatee County Parks & Natural Resources Department determined that United Parks Services, Inc., has completed the capital improvements projects.

Approval is being requested to return the cash deposits to United Parks Services, Inc.



County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
Please send approved agenda item to jayne.roberts@mymanatee.org with the Parks & Natural Resources Department.

Cost and Funds Source Account Number and Name
$25,000 - 001.0000000.229103 & $10,000 - 001.0000000.229102

Amount and Frequency of Recurring Costs
One time


Attachment:  UPS Satisfaction letters.pdf