Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - July 29, 2014
July 29, 2014 - Regular Meeting
Agenda Item #64

Bonds - Prospect Point Subdivision - Accept Letter of Credit Amendment for Defect Security Agreement


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
  • Accept Letter of Credit No. 466964 Amendment, in the amount of $40,780.97, in conjunction with a Defect Security Agreement with OakTree Bougainvillea, LLC.

Enabling/Regulating Authority


Background Discussion

On November 19, 2013, the Board of County Commissioners accepted an Agreement Warranting Required Improvements securing water, wastewater, stormwater, drainage, reclaim, and paving (public improvements).  This agreement must remain in place for three (3) years from the Board acceptance. 

This Letter of Credit Amendment extends the expiration date to August 20, 2015, and verifies the security remains in place and the developer is compliant with this Agreement.

County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other

Reviewing Attorney

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

Amount and Frequency of Recurring Costs

Attachment:  Prospect Point LOC Amendment.pdf