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Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - September 9, 2014
September 9, 2014 - Regular Meeting
Agenda Item #43


Subject
Bonds - Cortez Landings Subdivision - Accept Private Extension Agreement, Accept 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 – Landscape and Irrigation; and
  • Accept and Execute Required Improvements Agreement and Temporary Construction Easement for Private Improvements – Landscape and Irrigation with Manatee County Habitat for Humanity; and
  • Accept Surety Bond No. 1014070 Verification Certificate, in the Amount of $157,953.59.


Enabling/Regulating Authority
N/A

Background Discussion
The developer has requested an extension on the landscape and irrigation for this project, which will be privately maintained.  The developer is in the process of selling this development, requiring the new owners to replace the current Private Improvements Agreement and surety bond with their own.  Until that time Manatee County will hold the Private Improvements Agreement and security provided by Manatee County Habitat for Humanity. 

This agenda item is to extend the agreement and security to ensure the developer is not in default with the agreement previously provided.  The developer has been notified of Resolution R-14-02 and has declined to reduce to the 130%, stating the process to reduce would not be justified by the premium savings. 


County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
Please provide confirmation of the action taken on this item to jane.oliver@mymanatee.org.

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:  Cortez Landings Pvt Ext.pdf
Attachment:  Cortez Landings VC.pdf