Agenda 03/10/2015 Item #16A 2 3/10/2015 16.A.2.
EXECUTIVE 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 for that subdivision known as Sierra Meadows, (Application Number AR-2340)
and enter into the standard form Construction,Maintenance and Escrow Agreement.
OBJECTIVE: To enter into a standard form Construction, Maintenance and Escrow Agreement
with the owner of the subdivision property.
CONSIDERATIONS: On June 25, 2002, the Board of County Commissioners (Board) approved
the final plat of Sierra Meadows for recording, and entered into a Construction, Maintenance and
Escrow Agreement with the developer. The improvements are substantially complete except for the
final lift of asphalt and sidewalks in front of vacant properties. On October 18, 2007, Growth
Management Division granted preliminary acceptance of the improvements. The developer is
working with a new escrow agent and would like to replace the existing performance guarantee
security. The developer has continued to request and receive extensions to the subdivision approval
in order to remain in compliance with the requirements of the Land Development Code.
FISCAL IMPACT: There is no fiscal impact associated with this Executive Summary. The
Security amount, equal to 10% of the project cost and 100% of the remaining improvements is
$199,225.50
GROWTH MANAGEMENT IMPACT: The developer must receive a Certificate of Adequate
Public Facilities prior to the issuance of any remaining site development plans within this
commercial subdivision.
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 endorses staff s
recommendation to enter into a Construction, Maintenance and Escrow Agreement with the
developer of Sierra Meadows and escrow agent (Application Number AR-2340) with the following
stipulations:
1. Approve the amount of$199,225.50 as performance security for the required improvements; or
such lesser amount based on work completed, and as is approved by the Growth Management
Division.
2. Approve the attached Construction, Maintenance and Escrow Agreement and authorize the
Chairman to execute the Agreement.
Prepared by: John Houldsworth, Senior Site Plans Reviewer, Development Review, Growth
Management Division
Attachments: 1) Location Map 2) Construction, Maintenance and Escrow Agreement
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COLLIER COUNTY
Board of County Commissioners
Item Number: 16.16.A.16.A.2.
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 for that subdivision known as Sierra
Meadows, (Application Number AR-2340) and enter into the standard form Construction,
Maintenance and Escrow Agreement.
Meeting Date: 3/10/2015
Prepared By
Name: HouldsworthJohn
Title: Site Plans Reviewer, Senior,Natural Resources
2/4/2015 6:20:43 AM
Approved By
Name: PuigJudy
Title: Operations Analyst,Community Development&Environmental Services
Date: 2/6/2015 3:10:17 PM
Name: McLeanMatthew
Title: Project Manager,Principal,Operations and Regulatory Management
Date: 2/11/2015 5:12:02 PM
Name: StoneScott
Title: Assistant County Attorney, CAO Land Use/Transportation
Date: 2/20/2015 1:32:37 PM
Name: MarcellaJeanne
Title: Executive Secretary,Transportation Planning
Date: 2/25/2015 9:16:42 AM
Name: KlatzkowJeff
Title: County Attorney,
Date: 2/25/2015 1:18:58 PM
Name: IsacksonMark
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3/10/2015 16.A.2.
Title: Division Director-Corp Fin&Mgmt Svc, Office of Management&Budget
Date: 3/2/2015 9:24:03 AM
Name: OchsLeo
Title: County Manager, County Managers Office
Date: 3/2/2015 4:56:42 PM
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CONSTRUCTION,MAINTENANCE AND ESCROW AGREEMENT FOR
SUBDIVISION IMPROVEMENTS
THIS AGREEMENT entered into this day of . 2015 by(Sierra Meadows, LLC
(hereinafter "Developer"), THE BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY,
FLORIDA, (hereinafter"The Board')and John M.Morgan,Attorney at Law(hereinafter"Escrow Agent").
RECITALS:
A. On June 25., 2002, Developer received approval by the Board of a certain plat of a subdivision to be
latcwn as: Sierra Meadows.
B. The subdivision will include certain improvements which are required by Collier County ordinances,
as set forth in a site construction cost estimate ("Estimate") prepared by Banks Engineering, a copy of
which is attached hereto and incorporated herein as Exhibit 1. For purposes of this Agreement, the
"Required Improvements" are limited to those described in the Estimate.
C. Sections 10.02.05 and 10.02.04 of the Collier County Land Development Code requires the Developer
to provide appropriate guarantees for the constriction and maintenance of the Required Improvements.
D. Developer previously entered into a constriction loan agreement with TIB Bank, dated January 24,
2006, to fund the cost of the :Required Improvements. At the time, TIEI Bank held 56 4,503.50 in an
Escrow Account as the guarantee.Developer now wishes to transfer the remaining Escrow amount to a new
Escrow Agent.
E. Developer and the Board have acknowledged that the remaining amount Developer is required to
guarantee pursuant to this Agreement is S174,725.50, and this amount represents 10% of the Developer's
engineer's estimate of the construction costs for the Required Improvements plus 52.4,500 for final lift of
asphalt.
NOW, THERE.FOFt]E, in consideration of the foregoing premises and mutual covenants hereinafter set
forth,Developer,the Board and the Escrow Agent do hereby covenant and agree as follows:
1. Developer will cause the remaining Required Improvements to be constructed pursuant to
specifications that have been approved by the County Manager or his designee within the time allowed
from the date of approval of said subdivision plat.
2. Developer hereby authorizes Escrow Agent to hold $174,725.50 plus 521,500 frorn the funds
allocated,in escrow,pursuant to the terms of this Agreement.
3. Escrow Agent agrees to hold in escrow$199,225.50.,to be disbursed only pursuant to this Agreement.
4. The escrowed fund.s shall be: released to the Developer only upon written approvah of the County
Manager or his designee who shall approve the release of the funds on deposit not more than once a month
to the Develope:r, in amounts due for work done to date based on the percentage completion of the work
multiplied by the respective work costs less ten percent 00%1; and further, that upon completion of the
work„ the County Manager or his des:ignrcee shall approve the release of any remainder of escrowed funds
except to the extent of Slot Z.Z.t ')which shall remain in escrow as a Developer guaranty of
maintenance of the Required [mprovernents for a minimum period of one(1)year pursuant to Paragraph 10
of the Agreement.
However,in the event that Developer shall fail to comply with the requirements of this Agreement,then the
Escrow Agent agrees to pay to the County immediately upon demand, the balance of the funds held in
escrow by Escrow Agent,as of the date of the demand,provided that upon payment of such balance to the
County, the County will have executed and delivered to the Escrow Agent in exchange for such funds a
statement to be signed.by the County Manager or his designee to the effect that:
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(a) Developer for more than sixty(60)clays after written notification of such failure has failed to comply
with the requirements of this agreement;
(b) The County,or its authorized agent,will complete the work called.for under the terms of the above-
mentioned contract or will complete such portion of such work as the County, in its sole discretion shall
deem necessary in the public interest to the extent of the funds then held in escrow;
(c) The escrow funds drawn down by the County shall be used for construction •f the Required
Improvements, engineering, legal and contingent costs and. expenses, and to offset any damages, either
direct or consequential,which the County may sustain on account of the failure of the Developer to carry
out and execute the above-mentioned development work;and
°
(d) The County will re a to the Escrow Agent any portion of the funds drawn down and not
O promptly F' 3' g Y1
expended in completion of the said development work.
5. Written notice to the Escrow Agent by the County specifying what amounts are to be paid to the
Developer shall constitute authorization by the County to the Escrow Agent for release of only those
specified finds to the Developer. Payment by the Escrow Agent to the Developer of the amounts specified
in a letter of authorization by the County to the Escrow Agent shall constitute a release by the County and
Developer of the Escrow Agent for the specified funds disbursed in accordance witk the letter of
authorization from the County.
6. The Required hmprovements shall not be considered for preliminary approval 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
Subdivision Regulations under the Land Development Code.
7. The County Manager or his designee shall, within sixty (60) days of receipt of the statement 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 the improvements., therewith
specifying those conditions which the Developer must fulfill in order to obtain the Director of the Required
Improvements. However.,in no event shall the County Manager or his designee refuse preliminary approval
of the improvements if they are in. fact constructed and submitted for approval. in accordance with the
requirements of this Agreement.
8. Should the funds held in escrow be insufficient to complete the Required Improvements.. the Board,
after duly considering the public interest,may at its option complete the Required Improvements and resort
( to any and all legal remedies against the Developer.
9. Nothing in this Agreement shall make the Escrow Agent liable for any funds other:hart these placed
in deposit by the Developer in accordance with the foregoing: provision; provided, that the Escrow Agent
does not release any monies to the Developer or to any other person except as stated in this Escrow
Agreement.
10. The Developer shall maintain all Required Improvementt for one year after preliminary approval by
the County Manager or his designee. After the one year maintenance period by the Developer and upon
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submission of a written request for inspection, the County Manager or his designee shall inspect the
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Required improvements and,if found to be still in compliance with the Code as reelected by final.approval
by the 13o•ard, the Escrow Agent's responsibility to the Board under this Agreement is terminated. The
Developer's responsibility for maintenance of the Required Improvements shall continue unless or until the
Board.accepts maintenance responsibility for and by the County.
11. All of the terms, covenants and conditions herein contained are and shall be bind:irtg upon the
• respective successors and assigns of the Developer and Escrow Agent.
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IN lArl NESS WHEREOF, the Board, Developer and Escrow Agent have caused this Agreement to be
executed by their duly authorized representatives this day of _,2015.
SIGNED, SEALED and DELIVERED INT THE PFLESEENCE CIF:
DEVELOPER
Sierra M,ead.ows,LLt_
BY
e-'Yy► 'ring --- Its:_ , - 41„."C G�-
Printed Name of emess/ Typed or Printed Name and Tide
Wit less (Two Required)
X11: "e117L��1EttE�f!?lJl�'E:__—_—.
Printed Name of Witness
E T SCROV AGENT /
By- �f
r
Wit:neSs t-nN Fee, � e y John.M. ;�'Iq;t�;a:n, A.tte�rne;y at Law
(. 18,.p 51107 Lainlg ,
Printed Name of J7deju1En
Vs4iness crwo Required)
Susan ' 't°'ri:e'f tE:IJl i I l e
Printed Name of Witness
ATTEST ]3OA:RDD OF COUNT COMMISSIONERS
DWIGHT E.BR OCK,CLERK FOR COLLIER.COUNTY,FLORIDA
]3y.
Deputy Clerk Tim Nance, Chairman
Approved as to form and legality:
- Ct (S/dc.)
Scott A. Stone
Assistant County Attorney
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2014 FLORIDA LIMITED LABIUM"cOMPA,NY ANNUAL REPORT FILE.,
DOCUMENT#L111000006180 Apr 30, 2014
Secretary of State
Entity Name:SIERRA MEADOVVS Lie CC8530883468
:urrent Principal Place of Business:
24600 S TAMIAMI TRAIL
#212,SUITE 5
BONIT.4 SPRINGS, FL 34134
Current Mailing Address:
24600 S TAMIAMI TRAIL
#212, SUITE 325
BONITA SPRINGS, FL 34134 US
FEI Number:27.4563149 Certificate of Status Desired: No
Name and Address of Current Registered Agent:
INVENIO CAPITAL
24600 S TAMIAMI TRIAL.
#212,SUITE 325
BONITA S DRINGS,FL 34134 LIS
The above named entity submits this statement for the purpose or changing its registered office or registered agent,or both,in the State of Florida.
SIGNATURE:
__ -- ----------- Date
Electronic Signature of Registered Agent
Authorized Person(s) Detail
Title MGR
Name INVENIO CAPITAL,LLC
Address 24600 S TAMIAMI TRAIL,#212,SUITE
325
City-State-Zip: BONITA SPRINGS FL 34134
I hereby certi.y that the information indicated on this won'or aipplen en al tepee is true and accurate end that my electronic sntrature she.t have the same Icgar effect as A made under
oath;that I era a managing member or manager ct the limited tiabpity company or the receiver or trustee empowered to eeecure this report as required by Chapter 605.Fbrida Statutes;and
that my name appears above,or 01 en attachment with a!'other like empo*wed.
SIGNATURE:KEITH S CAMPBELL MGR
Electronic Signature of Signing Authorized F'erson(s)Detail Date
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