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Agenda 03/27/2012 Item #16A 83/27/2012 Item 16.A.8. EXECUTIVE SUMMARY n Recommendation to accept an alternate security from the current owner of that subdivision known as Summit Place in Naples, Phase 11, and to enter Into a new Construction; and Maintenance Agreement for Subdivision Improvements. OBJECTIVE: To accept an alternate security for the required" subdivision improvements associated with Summit Place in Naples, Phase 11 and to enter into a Construction and Maintenance Agreement with the current owner of the subdivision. CONSIDERATIONS On April 25, 2006, r the Board approved the plat for Summit Place in Naples, Phase 11 and entered into a Construction and Maintenance Agreement for Subdivision Improvements with the developer. A new developer has purchased the project and has provided a Construction and Maintenance Agreement for Subdivision Improvements, together with a Performance Bond to ensure completion of the required subdivision improvements. The current security requirement is $257,117.00. This process is consistent with Section 10.02.05 A.4.b of the Collier County Land Development Code. FISCAL IMPACT: The County will realize revenues as follows: Fund: Community Development Fund 131 Agency: County Manager Cost Center: 138327 — Engineering Project Review n Revenue generated by this project: Total: $68,550.15, as reflected in the Executive Summary of April 25, 2006. GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this approval LEGAL CONSIDERATIONS: The County Attorney's Office has reviewed and approved the Construction and Maintenance Agreement as well as the Performance Bond for legal sufficiency. This item is ready for Board approval and requires a majority vote. STW RECOMMENDATIONS: 1) That the Board of County Commissioners approve the alternate security and authorize the Chairman to execute the Construction and Maintenance Agreement. 2) Release Waterways Joint Venture from the existing Construction, Maintenance and Escrow Agreement and return the posted performance security. PREPARED BY: John Houldsworth, Senior Site Plans Reviewer, Land Development Services/ Engineering Review, Growth Management Division, Planning and Regulation Attachments: 1) Location Map 2) Construction and Maintenance Agreement 3) Performance Bond Packet Page -719- COLLIER COUNTY Board of County Commissioners Item Number: 16.A.8. 3/27/2012 Item 16.A.8. Item Summary: This item requires that ex parte disclosure be provided by Commission members. Should a hearing be held on this item, all participants are required to be sworn in. Recommendation to accept an alternate security from the current owner of that subdivision known as Summit Place in Naples, Phase II, and to enter into a new Construction and Maintenance Agreement for Subdivision Improvements. Meeting Date: 3/27/2012 Prepared By Name: HouldsworthJohn Title: Site Plans Reviewer, Senior,Engineering & Environm 2/29/2012 12:47:18 PM Approved By Name: PuigJudy Title: Operations Analyst, GMD P &R Date: 3/1/2012 3:05:02 PM Name: LorenzWilliam Title: Director - CDES Engineering Services,Comprehensive Date: 3/1/2012 3:32:34 PM Name: McKennaJack Title: Manager - Engineering Review Services,Engineering & Environmental Services Date: 3/6/2012 11:33:28 AM Name: FederNorman Title: Administrator - Growth Management Div,Transportati Date: 3/6/2012 2:08:17 PM Name: MarcellaJeanne Title: Executive Secretary,Transportation Planning Date: 3/6/2012 4:19:29 PM Name: WilliamsSteven Packet Page -720- 3/27/2012 Item 16.A.8. Title: Assistant County Attomey,County Attorney Date: 3/13/2012 10:04:22 AM Name: KlatzkowJeff Title: County Attorney Date: 3/14/2012 4:32:53 PM Name:IsacksonMark . Title: Director -Corp Financial and Mgmt Svs,CMO Date: 3/16/2012 1:51:03 PM Name: IsacksonMark Title: Director -Corp Financial and Mgmt Svs,CMO Date: 3/16/2012 1:55:31 PM Packet Page -721- [ w 2 � � i § / m r, O � O Z 3 � � � � � 3 � � '.7 /07 11) n4q4._ � AM § \ | ! ' ■ § � 77 | # Q _TNWON M—.. ` _ q F / ; ;# q 8 §�§ . . - | | | | |; 7 7 /. ms~ , { { CA al ` A ` Az- 3/27/2012 Item 16.A.8. CONSTRUCTION AND MAINTENANCE AGREEMENT FOR SUBDIVISION IMTROVEI ERM nUS CONSTRUCTION AND MAINTENANCE AGREEMENT FOR SUBDIVISION DOROVEMENTS entered into this o11 day of 2M,_ between Summit Waterways LLC., hereinafter referred to as "Develo ," and the Board of County Commissioners of Collier County, Florida, hereinafter referred to as the "Board. RECITALS: A. Developer has previously received approval from the Board for that subdivision known as Summit Place Phase H. Summit Waterways, LLC is a successor developer and wishes to replace the existing securities which had been provided by the original developer. B. Chapters 4 and 10 of the Collier County Land Development Code requires the Developer to post appropriate guarantees for the construction of the improvements required by said subdivision regulations, said paranees to be incorporated in a bonded agreement for the construction of the required improvements. NOW, THEREFORE, in consideration of the foregoing premises and mutual covenants hereinafter set forth, Developer and the Board do hereby covenant and agree as follows: i. Developer will cause to be constructed: Roadway, drainage, water and sewer impmvemants within 19 months from the date of Board approval, said n improvements hereinafter referred to as the required improvements. 2. Developer herewith tenders its subdivision performance security (attached hereto as Exhibit "A" and by reference made a part hereof) in the amount of $257,117.00 which amount represents 10% of the total contract cost to complete construction plus 100°Ya of the estimate cost of to complete the required improvements at the date of this Agreement. I In the event of default by the Developer or failure of the Developer to complete such improvements within the time required by the Land Development Code, Collier County, may call upon the subdivision performance security to insure satisfactory completion of the required improvements. 4. The required improvem=ts shall not be considered complete until a statement of substantial completion by Developer's engineer along with the final project records have been furnished to be reviewed and approved by the County Manager or his designee for compliance with the Collier County Land Development Code. 5. 'Ile County Manager or his designee shall, within sixty (60) days of receipt of the 8W=wnt of substantial completion, either a) notify the Developer in writing of his preliminary approval of the improvements; or b) notify the Developer in writing Of his refusal to approve improvements, therewith specifying those conditions which the Developer must firlfiIl in order to obtain the County Manager's approval of the etoie�rs.�e� r« �e. �. r►, a�e�aearntuuomu�ow .waarw�.rHizwe Packet Page -723 -� 3/27/2012 Item 16.A.8. improv==ts. However, in no event shall the County Manager or his designee refrase Preliminary approval of the improvements if they are in fact constructed and submitted for approval in accordance with the requirements of this Agreement. 'nW Developer shall mairatsin all required improvements for a minimum period of one do Y=' after preliminary approval by the County Manager or his designee. After shall perm�ance period by the Developer has terminated, the Developer Y Manager or his designee to inspect the required improvements. The County Manager or his designee shall inspect the improvements end, if found to be still in compliance with the Collier County Lend Development Code as reflected by final approval by the Board, the Board small release the remaining 10`io of the subdivision performance security. ne Developer's re sponsibility for maintenance of the required improvements shall continue unless or until the Board accepts mainbe n ;e responsibility for and by the County. 7. Six (6) months after the moeeution of this Agreement and once within every six (6) months thereafter the Developer may request the County Manager or his designee to reduce the dollar arruaunt of the subdivision performance security on the basis of work complete. Each request for a reduction in the dollar amount of the subdivision performance security shall be accompanied by a statement of substantial completion by the Developer's engineer together with the project records necessary for review by the County Manager or ills designee. The County Manager or his designee may grant the request for a reduction in the amount of the subdivision performance qty for the improvements completed as of the date of the request. 8. In the event the Developer shall fail or neglect to fulfill its obligations under this Agreement, upon certification of such failure, the County Manager or his designee may call upon the subdivision performance security to secure satisfactory completion, repair and maintenance of the required improvements. The Board shall have the right to construct and maintain, or cause to be constructed or maintained, pursuant to public advertisement and receipt and acceptance of bids, the improvements required herein. 'Phi Developer, as principal under the subdivision performance security, shall be liable to pay and to indemnify the Board, upon completion of such construction, the final total cost to the Board thereof, including, but not limited to, engineering, legal anti contingent costs, together with any damages, either direct or consequential, Which the Board may sustain an account of the failure of the Developer to fulfill all of the provisions of this Agreement. 9. All of the terms, covenants and conditions herein contained are and shall be binding upon the Developer and the respective successors and assigns of the Developer. c+ ooa, .�a.Ks�rr�,ri.er+a�awi.+�aw.a.a wrnodraoae ,NCaorfb,c,,,wi+�a..sai :..� Packet Page -724- n �i, `y •f�J,Y� ^aPA1� d �. :. b � A Virg ma --4 W, } yak 4� F •r ' M A ,q •n n . w :. .... x k a a.. V aa ,.. •}yE.' nom`.. 4 °. . _ .. .Ziln. .. .. i Packet Page -725- 3/27/2012 Item 16.A.8. COLLIER COUNTY LAND DEVELOPMENT CODE PERFORMANCE BOND NO. SEIFSU0586736 KNOW ALL PERSONS BY THESE PRESENTS: that SUMMIT WATERWAYS, LLC 4949 SW 75TH AVE. MIAMI, FL 33155 (hereinafter referred to as "Owner ") and INTERNATIONAL FIDELITY INSURANCE COMPANY ONE NEWARK CENTER, 20TH FLOOR NEWARK, NJ 07102 (hereinafter referred to as "Surety") are held and firmly bound unto Collier County, Florida, (hereinafter referred to as "County") in the total aggregate sum of Two hundred fifty seven thousand one hundred seventeen & 00 /100 Dollars ($257,117.00) in lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. Owner and Surety are used for singular or plural, as the context requires. THE CONDITION OF THIS OBLIGATION is such that whereas, the Owner has submitted for approval by the Board a certain subdivision plat named Summit Place in Naples Phase II and that certain subdivision shall include specific improvements which are required by Collier County Ordinances and Resolutions (hereinafter "Land Development Regulations "). This obligation of the Surety shall commence on the date this Bond is executed and shall continue until the date of final acceptance by the Board of County Commissioners of the specific improvements described in the Land Development Regulations (hereinafter the "Guaranty Period ") NOW, THEREFORE, if the Owner shall well, truly and faithfully perform its obligations and duties in accordance with the Land Development Regulations during the guaranty period established by the County, and the Owner shall satisfy all claims and demands incurred and shall fully indemnify and save harmless the County from and against all costs and damages which it may suffer by reason of Owner's failure to do so, and shall reimburse and repay the County all outlay and expense which the County may incur in making good any default, then this obligation shall be void, otherwise to remain in full force and effect. PROVIDED, FURTHER, that the said Surety, for value received hereby, stipulates and agrees that no change, extension of time, alteration, addition or deletion to the proposed specific improvements shall in any way affect its obligation on this Bond, and it does hereby waive notice of any such change, extension of time, alteration, addition or deletion to the proposed specific improvements. PROVIDED FURTHER, that it is expressly agreed that the Bond shall be deemed amended automatically and immediately, without formal and separate amendments hereto, so as to bind the Owner and the Surety to the full and faithful performance in accordance with the Land Development Regulations. The term "Amendment," wherever used in this Bond, and whether referring to this Bond, or other documents shall include any alteration, addition or modification of any character whatsoever. IN WITNESS WHEREOF, the parties hereto have caused this PERFORMANCE BOND to be executed this 15th day of February, 2012. LDCA:6 Packet Page -726- 3/27/2012 Item 16.A.8. ILLC SIGNATORIES Summit Waterways, LLC By its Member: Waterways JV Holdings, LP By its General Partner: Florida Real Estate Value Fund alter, LLC Estate Value Fund Attest By: Arnaud Karsenti, Managing Member LLC ACKNOWLEDGMENT STATE OF....C.t �VA. "x . ..................... ss: COUNTY .:. ... I On this ......... .......... day of ........ .................in the year 2012 before me personally come(s) ... .... Arnaud Karsenti ................................................................................................ ............. to me known who, being by me duly sworn, deposes and says that he/she resides in the City ........ H'.*) ......................... that hie he is the ......... Managing Member ............................................................ of ...... Summit Waterways, LLC ......................................................... the corporation described in and which executed the foregoing instrument; tha&she knows the seal of the said corporation; that the seal affixed to said instrument is such corporate seal; that it was so affixed by the order of the Board of Directors of said corporation, and tha&she sip.", ernametheretobyli o 'r, GATT RUT ELIZABETH meolln'. My C0MfV13Slt7'-4 # r-r-nn,&. (Signature and title of official taking acknowledgment/ Notary) jE' L'--1lRti7S Jujy 10), 20174 ao6d:. lotarvsc Attestj& STATE OF ... ..... Floridjl . ...................... COUNTY OF ...... OrAfPj ...................... International Fidelity Insurance Company B 0 0-1 - act P Ti Atto SURETY ACKNOWLEDGMENT I ss: On this ...... . ......... day of ........f e Lr tZL .,.A .....................in the year 2012 before me personally come(s)... ......Jason Valle ................................................................. ( F.* to me known who, being by me duly sworn, deposes and says th.1Qhe resides in the City ......... Packet Page -727- 3/27/2012 Item 16.A.8. that&he is the ......... ............ of the M, 4+ 5.41 ...... the surety described in and which executed the foregoing instrument; that&she knows the sea] of the said surety; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by the order of the Board of Directors of said surety, and th&she signed his/her name thereto by like order. ............... I ........... . ...... .. (Signature and title of official taking acknowledgment/ Notary) SHARI A U%qNGSTON COMVASSOW # DD965186 OSRES MAY 12 20"' Va WVJLOM CMO*W Packet Page -728- 3/27/2012 Item 16.A.8. WTEANATJC3NAL FI©EM INSUA- ANCE'COMPPANY A LL E GHENY CAS( ALTS, 3OPAN'Y Packet Page -729-