Okaloosa County BOCC — March 15, 2016 — Nature Lake Phase I — agenda request
Nature Lake Phase I — agenda request in the March 15, 2016 Okaloosa County BOCC meeting materials. Preserved county-portal original with machine-extracted reading text.
Preserved among the March 15, 2016 Okaloosa County Board of County Commissioners meeting materials (IQM2 meeting 1324). The date shown is the verified meeting context, not an independently established creation date for every attachment. The download catalog used April 1, 2016; the meeting date was corrected using the agenda/minutes heading and matching source filename.
Original publication
Action Item Printout
Date
March 15, 2016
Publisher
Okaloosa County Board of County Commissioners
Where to find it
2
Reference collection
Okaloosa County Board of County Commissioners (IQM2 public portal)
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Nature Lake Phase I — agenda request — extracted reading text
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Nature Lake Phase I — agenda request — extracted reading text
Machine-extracted OCR text · Review label: Known limitations
BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
DATE: March 15, 2016
TO: Honorable Chairman and Members of the Board
FROM: Jason Autrey
SUBJECT: Nature Lake Phase I
DEPARTMENT: Public Works
BCC DISTRICT: One
STATEMENT OF ISSUE: The developer is requesting an extension of the warranty period and
acceptance of the Addendum to Irrevocable Standby Letter of Credit No. SB72258L from
Whitney Bank for Nature Lake Phase I subdivision.
BACKGROUND: Nature Lake Phase I subdivision was accepted by the Board of County
Commissioners to enter into the 18-month warranty period on April 1, 2014. The Irrevocable
Standby Letter of Credit No. SB72258L in the amount of Two Hundred Fifty Thousand Dollars
($250,000) was provided by the developer to serve as maintenance bond. The said letter of credit
will expire on April 1, 2016 and numerous project deficiencies have not been rectified by the
developer.
With the imminent expiration of the letter of credit on file, the developer is requesting the Board
of County Commissioners to approve an extension of the warranty period and acceptance of the
addendum to the irrevocable standby letter of credit. Acceptance of the addendum will cause the
Irrevocable Standby Letter of Credit No. SB72258L from Whitney bank, to now expire on April
1, 2017; with other terms and conditions unchanged. All of the remaining work will be
completed by the developer during the extended warranty period.
OPTIONS: Approve/Disapprove the developer's request.
RECOMMENDATIONS: Approve the developer's request to extend the warranty period and
accept the Addendum to Irrevocable Standby Letter of Credit No. SB72258L from Whitney
Bank, in the amount of $250,000 with an expiration date of April 1, 2017 for Nature Lake Phase
1 subdivision.
RECOMMENDED BY:
APPROVED BY:
John Hofstad, County Administrator
Okaloosa County Board of County Commissioners. “Okaloosa County BOCC — March 15, 2016 — Nature Lake Phase I — agenda request.” March 15, 2016. Action Item Printout. Crypt of Echoes evidence ID LED-2026-03157b71cd5548038da183c30a183c6d. http://127.0.0.1:58097/evidence/LED-2026-03157b71cd5548038da183c30a183c6d. Accessed [date].
Catalogue citation: Okaloosa County Board of County Commissioners, Nature Lake Phase I — agenda request, meeting materials for March 15, 2016. https://okaloosacountyfl.iqm2.com/Citizens/FileOpen.aspx?Type=30&ID=18384&MeetingID=1324
Preserved county public-record source. Third-party attachments may retain their original rights.
