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

Bonds - Pope Road, Phase 2A, and Malachite Drive, Phase 2 - Release Performance Agreement and Surety Bond; Accept Defect Security and Surety Bond


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

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

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

Amount and Frequency of Recurring Costs

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