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Agenda 10/13/2015 Item #16A 5n n 10/13/2015 16.A.5. EXECUTIVE SUMMARY Recommendation to authorize the Clerk of Courts to release a Letter of Credit in the amount of $388,600 which was posted as a guaranty for Excavation Permit Number 59.197.4, (PL20130002029) for work associated with Ponte Rialto. OBJECTIVE: To release a security which was posted as a development guaranty. CONSIDERATIONS: The Development Review Division routinely accepts securities administratively as guaranties for excavation improvements in accordance with Section 22 -115 of the Collier County Code of Ordinances. The work associated with this security has been inspected and the developer has fulfilled his commitments with respect to this security. The Letter of Credit was posted as security for an Excavation Permit associated with Ponte Rialto (PL20130002029). The As -Built lake cross sections have been received and the lakes have been inspected by the Development Review Division. 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: That the Board of County Commissioners (Board) authorizes the Clerk of Courts to release the Letter of Credit in the amount of $388,600.00. Development Review staff will issue a Memorandum to the Clerk of Courts upon approval of this item by the Board, advising the Clerk of this action. Prepared by: John Houldsworth, Senior Site Plans Reviewer, Development Review Division, Growth Management Department Attachments: 1) Location Map and 2) Copy of Letter of Credit Packet Page -611- 10/13/2015 16.A.5. COLLIER COUNTY Board of County Commissioners Item Number: 16.16.A.16.A.5. Item Summary: Recommendation to authorize the Clerk of Courts to release a Letter of Credit in the amount of $388,600 which was posted as a guaranty for Excavation Permit Number 59.197.4, (PL20130002029) for work associated with Ponte Rialto. Meeting Date: 10/13/2015 Prepared By Name: HouldsworthJohn Title: Site Plans Reviewer, Senior, Growth Management Department 9/2/2015 1:18:21 PM Approved By Name: McLeanMatthew Title: Project Manager, Principal, Growth Management Department Date: 9/2/2015 4:26:10 PM Name: FrenchJames Title: Deputy Department Head - GMD, Growth Management Department Date: 9/3/2015 5:32:36 PM Name: PuigJudy Title: Operations Analyst, Growth Management Department Date: 9/9/2015 10:01:27 AM Name: PuigJudy Title: Operations Analyst, Growth Management Department Date: 9/9/2015 10:02:06 AM Name: MarcellaJeanne Title: Executive Secretary, Growth Management Department Date: 9/10/2015 3:55:04 PM Name: StoneScott Title: Assistant County Attorney, CAO Land Use /Transportation Date: 9/22/2015 9:01:57 AM Packet Page -612- Name: IsacksonMark 10/13/2015 16.A.5. Title: Division Director - Corp Fin & Mgmt Svc, Office of Management & Budget Date: 9/23/2015 10:08:41 AM Name: KlatzkowJeff Title: County Attorney, Date: 9/23/2015 11:51:15 AM Name: DurhamTim Title: Executive Manager of Corp Business Ops, Date: 9/24/2015 12:54:39 PM Packet Page -613- r r U V o Z z W O W F Q � W U O 10/13/2015 16.A.5. axx u'. / 7 if mw N H N K xO WF 3 a � N r r W o O 10/13/2015 16.A.5. axx u'. / 7 if mw N H N K xO WF 3 Y o O 10/13/2015 16.A.5. axx u'. / 7 if mw N H N K xO WF 3 rdcKelydge -o14- CL a W V/ CL CQ L 0 a 0 Y m m O m W C' F- MIME Elm rdcKelydge -o14- CL a W V/ CL CQ L 0 a 0 Y m m O m W C' F- 0/13/2015 16.A.5. "�[LiELfTY - UARANT'Y AND ACC•E °PTANCE`'CO'RT "A a >�tltl NW idY AVENUE } "SU1T'E`r14tl . .. .,:i; -. '_. ..... 0 14 , 7N •E,h {:'�'0"5')55'�= 87'24.;::ta, Nr,.._C.t t.:r,E'i3FY vk " -l.t Tr !�, R- -::(!eJ A. ..,L.. r. =S. I ,'..lf.' "' .. ,,,.: ..: T­0 : ..:;1RRBVOQAW ESTANDBY / r v _C, ` trc�i�i'4 ISSUER ' � FIb`£t.1TY G`l1ARA�tTY A13�? 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