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Agenda 12/10/2013 Item #16A 4
12/10/2013 16.A.4. EXECUTIVE SUMMARY Recommendation to authorize the Clerk of Courts to release a Letter of Credit in the amount of $350,896 which was posted as a development guaranty for work associated with Treviso Bay Excavation Permit No.'s 59.917 and 59.917-1,AR-6463 and AR-13732. OBJECTIVE: To release a letter of credit which was posted as a development guaranty. CONSIDERATIONS: Engineering Services 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 security was provided to Collier County on December 5, 2005, for work associated with the lake excavation within Treviso Bay and issuance of the Excavation Permits. On July 29, 2008, the letter of credit was reduced to its current value based on work completed. On April 28, 2009, the developer's engineer provided the required plans and certification to allow acceptance of the lakes. Engineering Services has reviewed the As-Built lake cross sections and inspected the lakes for compliance with the requirements of the Collier County Excavation Regulations (Article IV of the Codes of Laws of Collier County). The required littoral plantings have been established and meet County requirements. Engineering Services 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. 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 Board approval. - SAS GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this Executive Summary. RECOMMENDATION: Recommendation that the Board of County Commissioners authorize the Clerk of Courts to release Letter of Credit No. SM216229W in the amount of$350,896, together with any amendments which had been posted for work associated with AR-6463 and AR-13732. Prepared by: John Houldsworth, Senior Site Plans Reviewer, Engineering Services / Growth Management Division, Planning and Regulation Attachments: 1) Copy of Letter of Credit Packet Page-752- 12/10/2013 16.A.4. COLLIER COUNTY Board of County Commissioners Item Number: 16.16.A.16.A.4. Item Summary: Recommendation to authorize the Clerk of Courts to release a Letter of Credit in the amount of$350,896 which was posted as a development guaranty for work associated with Treviso Bay Excavation Permit No.'s 59.917 and 59.917-1, AR-6463 and AR- 13732. Meeting Date: 12/10/2013 Prepared By Name: HouldsworthJohn Title: Site Plans Reviewer, Senior,Engineering&Environm 10/29/2013 2:42:19 PM Approved By Name: McKennaJack Title: Manager-Engineering Review Services,Engineering&Environmental Services Date: 11/4/2013 4:30:43 PM Name: PuigJudy Title: Operations Analyst, GMD P&R Date: 11/5/2013 4:39:07 PM Name: StoneScott Title:Assistant County Attorney Date: 11/6/2013 2:29:16 PM Name: MarcellaJeanne Title: Executive Secretary,Transportation Planning Date: 11/20/2013 2:53:58 PM Name: StoneScott Title: Assistant County Attorney Date: 11/25/2013 3:27:08 PM Name: FinnEd Title: Senior Budget Analyst, OMB Packet Page-753- 12/10/2013 16.A.4. 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