Agenda 01/28/2014 Item #16A11/28/2014 16.A.1.
EXECUTIVE SUMMARY
Recommendation to authorize the Clerk of Courts to release a Letter of Credit in the amount of
$52,710 which was posted as a development guaranty for work associated with Sabal Bay
Commercial Plat — Phase 4, AR- 13453.
OBJECTIVE: To authorize the release of a Letter of Credit which was posted as a development
guaranty.
CONSIDERATIONS: The Engineering Services department routinely accepts securities
administratively as guaranties for developer commitments. The work associated with this
security has been inspected and the developer has fulfilled his commitments with respect to this
security. The subject Letter of Credit was provided for work associated with an Early Work
Authorization (EWA). The developer obtained the EWA in order to prepare the site in advance
of the issuance of the final construction plan and plat approval. The final construction plans and
plat were approved by the BCC on April 9, 2013. Once the final construction plans and plat are
approved, the EWA is no longer necessary. Engineering Services is unaware of any issues
which would negate this recommendation. Upon receipt of the original Letter of Credit from the
Clerk of Courts, Engineering Services will return the document to the applicant's authorized
agent and obtain confirmation from the recipient. Engineering Services will issue a
Memorandum to the Clerk of Courts upon approval of this item by the BCC.
FISCAL IMPACT: There is no fiscal impact associated with this Executive Summary.
LEGAL CONSIDERATIONS: This item has been approved as to form and legality, and
requires a majority vote for approval. - SAS
GROWTH MANAGEMENT IlKPACT: There is no growth management impact associated
with this Executive Summary.
RECOMMENDATION: That the BCC authorizes the Clerk of Courts to release the Letter of
Credit in the amount of $52,710.00.
Prepared by: John Houldsworth, Senior Site Plans Reviewer, Engineering Services / Growth
Management Division, Planning and Regulation
Attachment: 1) Letter of Credit
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1/28/2014 16.A.1.
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.16.A.16.A.1.
Item Summary: Recommendation to authorize the Clerk of Courts to release a Letter of
Credit in the amount of $52,710 which was posted as a development guaranty for work
associated with Sabal Bay Commercial Plat - Phase 4, AR- 13453.
Meeting Date: 1/28/2014
Prepared By
Name: HouldsworthJohn
Title: Site Plans Reviewer, Senior,Engineering & Environm
1/2/2014 11:28:09 AM
Approved By
Name: PuigJudy
Title: Operations Analyst, GMD P &R
Date: 1/2/2014 1:06:43 PM
Name: McKennaJack
Title: Manager - Engineering Review Services,Engineering & Environmental Services
Date: 1/9/2014 12:16:05 PM
Name: StoneScott
Title: Assistant County Attorney
Date: 1/10/2014 10:21:07 AM
Name: MarcellaJeanne
Title: Executive Secretary,Transportation Planning
Date: 1/16/2014 9:31:04 AM
Name: KlatzkowJeff
Title: County Attorney
Date: 1/16/2014 2:53:26 PM
Name: FinnEd
Title: Senior Budget Analyst, OMB
Date: 1/17/2014 6:17:23 PM
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1/28/2014 16.A.1.
Name: IsacksonMark
Title: Director -Corp Financial and Mgmt Svs,CMO
Date: 1/21/2014 10:55:36 AM
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1/28/2014 16.A.1.
PAGE I
BANK, OF
DATE: FEEFIMAXY 25, 2013
IRREVOOkBLE STA13DiE4y 'T CIZEDIT ll'UTTBER- G8090:64 0
ISSITTIC;. BAIxr
SWNF: Or AMERICA, V'r-
ONE FLEET WVY
PA6 -:580.- 0 2 - 3 0
S.(:Rj-J,Tr0N, PA 1850-1-2995,
BENEFICIARY AflPLI-AlIT
IM BOARD OF COUNTY COMKISIOIZELS, COLIsIER Lim) ,uni,opmer.", mc.
COLVIRR COULTY, FI-ORI13P, 2556 GO(3DLSTT-E RD N STE 100
CoLL,::Ej, C'O1JNT7T COURTHOUSE COMPLEX butpias, Fl, 2-1103-2172.4
NAPLES, FLORIDA 34112
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NOT EXCEEDIM, USS 52,710.00
NOT ImCEEI)ING rIF'rf -wo THorlo(AND SEVE'vQ4 HOTO)RED TEN AIM 00/10016 US DOLLARS
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FEBS.[Wl.Y 2:2, 2014 AT OIJP COUITTERS,
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MAIDITA.,Z'N ITS111 I 'S -W OR IMPES)VENE S
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AS SHMM ON THIS PL .NS FOT' SjU37U, Bjkl' COK4rRCIAL PLAT' - PEPAE FOUR, OR
PRIOR — .r A, T- CCMPLETS: THE
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1/28/2014 16.A.1.
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LEA-ST SIXTY (6 0) MOM PRIOR TC: AM EXPIRKTIO11 DATE- WE NOTIFY YOM BY
REGISTMED M11i OR CYVFRNIGW-r CO"JRIER AT TIJE: ABOArE LISTEM ADDRESS TFMT
WE ELEC'! N- TO CONSMER TF-rS LETTER OF CREDIT E)MMED FOS, dDiM .0113M
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OF AMERICA, X.A., I. FIXET WA-Y, SCRANTON, P;, 185C-',1-3.999, KMI: STANDBY
LETTER OF CREDIT DEPARTrUMT BY HAND IXMIVEVI, OVnRlITIGHT COURIER
SERVICE, OF BY Fit- IKILE TO 8017-755 -8743, (ALd, FAC.E;Iv-.-,jE
PRESEr"P.,711ONS MUST BE' FOLLOWED Bit A TELEPHONE CAI.:L TC 800-5170-75:.9 To
C011FIRM RECEIPT) , ANY SUCH IMCSIMILIZ pRES-ENTM-ION SHAL1, IMT REQU-6]'k E
THE ORIGIINKT, DOCUMENTATION TO 3F SEST TO US BY MAIL.
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WE HEREBY ENGAGE Vri"ni THE BEIIIEFICIARY THAT' DR AFT (S"f DRAIM UNDER AND
IN c:OMPLIMM ` K:Mt ME TEP14S OF 'PHIS. C1MDTT WILL BE DULY HONORED BY
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AUTHORIZE) SIONATIME
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