Agenda 12/13/2016 Item #16A 4 16.A.4
12/13/2016
EXECUTIVE SUMMARY
Recommendation to authorize the Clerk of Courts to release an Irrevocable Standby Letter of
Credit in the amount of$162,690 to Amberton Properties, LLC., which was posted as a guaranty
for a Site Development Plan (SDP), (AR-3172) for work associated with Amberton a/k/a Indian
Hills.
OBJECTIVE: To release a security which was posted as a development guaranty.
CONSIDERATIONS: The Development Review Division routinely accepts securities administratively
as guaranties for site development plans in accordance with LDC Section 10.02.03 D.5.b. The work
associated with this security has been inspected and the developer has fulfilled his commitments with
respect to this security. The subject security was provided to ensure completion of final paving and
sidewalk improvements associated with the Amberton SDP. The paving and sidewalks have since been
completed and inspected.
FISCAL IMPACT: There is no fiscal impact associated with this Executive Summary.
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with
this Executive Summary.
LEGAL CONSIDERATIONS: This item has been approved as to form and legality, and requires a
majority vote for Board approval. - SAS
RECOMMENDATION: To authorize the Clerk of Courts to release an Irrevocable Standby Letter
of Credit No. 11556 in the amount of$162,690 to Amberton Properties, LLC. Development Review
staff will issue a Memorandum to the Clerk of Courts upon approval of this item by the Board of
County Commissioners, advising the Clerk of this action.
Prepared by: John Houldsworth, Senior Site Plans Reviewer, Development Review Division, Growth
Management Department
ATTACHMENT(S)
1. Location Map (PDF)
2. Letter of Credit (PDF)
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16.A.4
12/13/2016
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.A.4
Item Summary: Recommendation to authorize the Clerk of Courts to release an Irrevocable
Standby Letter of Credit in the amount of$162,690 to Amberton Properties, LLC., which was posted as a
guaranty for a Site Development Plan (SDP), (AR-3172) for work associated with Amberton a/k/a Indian
Hills.
Meeting Date: 12/13/2016
Prepared by:
Title: Site Plans Reviewer, Senior—Growth Management Development Review
Name: John Houldsworth
10/14/2016 9:20 AM
Submitted by:
Title: Project Manager, Principal—Growth Management Department
Name: Matthew McLean
10/14/2016 9:20 AM
Approved By:
Review:
Growth Management Department Judy Puig Level 1 Division Reviewer Completed 10/14/2016 12:05 PM
Growth Management Department Matthew McLean Additional Reviewer Completed 10/25/2016 4:02 PM
Growth Management Department James French Additional Reviewer Completed 10/26/2016 6:31 PM
Growth Management Department Jeanne Marcella Level 2 Division Administrator Completed 11/01/2016 4:17 PM
County Attorney's Office Scott Stone Level 2 Attorney Review Completed 11/17/2016 1:56 PM
County Attorneys Office Jeffrey A.Klatzkow Level 3 County Attomey's Office Review Completed 11/17/2016 2:29 PM
Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 11/17/2016 4:54 PM
Budget and Management Office Mark Isackson Additional Reviewer Completed 11/18/2016 3:09 PM
County Manager's Office Leo E.Ochs Level 4 County Manager Review Completed 11/28/2016 9:29 AM
Board of County Commissioners MaryJo Brock Meeting Pending 12/13/2016 9:00 AM
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16.A.4.a
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Home Dynamics
L p C o r p a r a t i o n
September 14th, 2011
Mike Sawyer
Project Manager, Zoning Services
Land Development Services Department •
Growth Management Division, Planning and Regulation
2800 North Horseshoe Drive
Naples, FL 34104
RE: Insubstantial Change to SDP o
INDIAN LAKES; AKA AMBERTON PROJECT
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Dear Mike,
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As discussed in our previous phone conversations and email exchanges, Home Dynamics c
Corporation would like to change the project's existing Letter of Credit (LC) with a new and
updated LC. o
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The existing_ LC secures the project's installation of the second lift of asphalt and remaining
sidewalks. This surety was issued by Wachovia Bank, LC TSM227648, for the amount of N
$214,176 and will be replaced by a new LC for the amount of S162,690.
This new surety reflects the County approved -`Engineer's Opinion of Probable Cost To U
Complete Improvements" dollar amount and will be issued by City National Bank of Florida. o
As in the previous LC, Collier County will be the beneficiary.
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Along with the $400.00 required check, attached is the executed SDPI application and
correspondence with the County explaining- what must be done in order to facilitate the change
of the LC for the project.
At this time, we would also ask to extend the project's SDP permit.
Sincer,ly
i` ,
Aleo Delfino
� I
7 a, r 33431 4 Phone (561:1 869-1800, Fax '661:) 869-1820
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", •-�', rrevocable Standby Letter of Credit No.11556
• =* ^ 1. august 31,2011
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i t:t-41:00214.---•;;;:. BENEFICIARY:F The$aard of County Comm.ssioners
____ t Collier County,Florida
L•�!x 5„% Collier County'Courthouse Complex
r- .-%:!......Naples,Fl 34112 p
" ' :APPLICANT: o
• # `.T,,' *--;.', Amberton Properties,LLC at
` r� -v. , i A755 Technology Way,Suite 210 2
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,.�, Boca Raton,.FL 33431 E
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"�^--- Amount:LYS Dollars$162,690.00
,42;',15..:74:-02-.. Expiration Date:.One year from issuance at our:Counters. °'
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•We hereby,open our Irrevocable Standby Letter of Credit No 11556,-in favor of The O
4;t a,>4F Board of County •Cormissioners, Collier-•Count\ Florida; for .the amount of One CO
, ' Eiundred Sixty Two Thousand Six Hundred Ninety'arid 001100 US DoLI•ars($162,690:00} c,•,
effective as of this date, mb
'for the account of Aerton Properties LLC:: .- N
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•- Funds under this Letter of Credit are available against presentation•of Beneficiary s sight d
+ d aftdrawn on City:National Bank of Florida,20 West 1'lagler St 4`". Floor,Iviiam,i'Ft U
• �•''a� "'t 33130 and accompanied by the following documents;:
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cat -1: f*;- k°` 1 Beneficiary's-Statement purportedly_signed by the County.Manager, certifying
fry r; '"' that "Amberton Properties,.LLC:has failed to 'coristruct•'and/or;•mai ntain 'the
-t~tx paving and sidewalk improvements as shown on those certaui plans for Indian _
Lakes •Development AKA Amberton prior to>the date of expiry, and'the _ a
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`'tztc . Applicant has failed to complete.the required final acceptance procedures as{ i:I z'''• '
required b'the Collier County Land Development Code, and the.Applicant has 0
i.. s - failed to provide the County Wiith satisfactory aI.ernatiye performance security,as Q
''` '°" r. required by Section '0.02.03_B.2.g of the. Collier County -Land'Development�M
itt='t t 1- Code."
'j 2. The original of this Letter of Credit and all Amendments, if any, must be
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44g�, 1 Drafts) drawn under
under this Letter of Credit must be marked"Drawn under City National
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Y_ :Bank of Florida Letter of Credit No. 11556 dated August 31,2011".
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CITY NATIONAL BANK OF FLORIDA
Irrevocable Standby Letter of Credit No.11556(Page 2 of 2)
Partial drawings are permitted.
This Letter of Credit sets forth in full the terms of City National Bank of Florida
undertaking and such undertaking shall not in any way be modified, amended, or 0
amplified by reference to any document,instrument,or agreement referenced to herein or N
in which this Letter of Credit relates, and any such reference shall not be deemed to c
incorporate herein by reference any document,instrument or agreement. o
City National Bank of Florida hereby engages with Beneficiary that draft(s)drawn under E
and in compliance with the terms of this Credit will be duly honored by City National
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Bank of Florida if presented at our office located in 25 West Flagler Street, 4th. Floor, or)
Miami,Fl.33130,Attn.Letters of Credit Department,within the validity of this Credit. m
This Credit shall be valid until August 31, 2012, and shall thereafter be automatically
renewed for successive one-year periods on the anniversary of its issue unless at least
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sixty(60) days prior to any such anniversary date,City National Bank of Florida(Issuer) - m
notifies the Beneficiary in writing_by registered mail or special courier that City National r„)
Bank of Florida(Issuer)elect not to so renew this Credit. 0N
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This Letter of Credit is subject to the Uniform Customs and Practices for Documentary
Credits(2007 Revisions),International Chamber of Commerce Publication No.600. m
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For City National Bank of Florida, • Al 45
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Peggy A.Foulkes,VP Alina Guas, le P
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International Division Manager Loan Services. anager
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11556rcvisedca
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INDIAN LAKES(A/K/A AMBERTON)
ENGINEER'S OPINION OF PROBABLE COST TO COMPLETE IMPROVEMENTS
(PAVING)
*REVISED*SEPTEMBER 14,2011
Description Quantity` Unit Unit Cost Total
Y4"Asphalt(2nd lift of asphalt)* 21,000 SY $4.40 $ 92,400
5'Sidewalk 22,200 SF $2.50 S 55.500
$147,900
Performance Bond for incomplete improvements to be in the amount of
110%of the estimated cost= $162,690
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Required Performance Bond: Total 5162,690
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��• *Asphalt in place as of September 2011
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caH1I99$1.998152v.Vp\osun-4 Cost to Complete Paving REV1S;�J 9.14 241I.doex
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