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BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
DATE: July 1, 2014
TO: Honorable Chairman and Members of the Board
FROM: John Hofstad
SUBJECT: Willow Creek Phase 2A Subdivision
DEPARTMENT: Public Works
BCC DISTRICT: one
STATEMENT OF ISSUE: The developer is requesting an extension of the warranty period and
acceptance of the maintenance bond (new Irrevocable Standby Letter of credit No. 201101 from
Summit Bank N. A.) for Willow Creek Plantation Subdivision Phase 2A.
BACKGROUND: Willow Creek Plantation Subdivision Phase 2A was accepted by the Board of
County Commissioners to enter into the 18-month warranty period on September 4, 2012. The
Irrevocable Standby Letter of Credit No.201101 issued by Summit Bank, N. A. In the amount of
Two Hundred Seven Thousand Five Hundred Seventy Three and 30/100 Dollars ($207,573.30)
was provided by the developer to serve as maintenance bond. The said letter of credit expires on
July 20, 2014, but 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 a
new letter of credit. The new letter of credit is also from Summit Bank, N. A. (No. 201101) with
an expiration date of July 20, 2015. All remediation work will be performed by the developer
during the extended warranty period.
OPTIONS: Approve/Disapprove the developer's request to extend the warranty period and
accept Letter of Credit No. 201101 from Summit Bank, N. A. In the amount of ($207,573.30)
which expires on July 20, 2015, for Willow Creek Plantation Subdivision Phase 2A.
RECOMMENDATIONS: Approve the developer's request to extend the warranty period and
accept Letter of Credit No. 200101 from Summit Bank, N. A. In the amount of ($207,573.30)
which expires on July 20, 2015, for Willow Creek Plantation Subdivision Phase 2A.
RECOMMENDED BY:
APPROVED BY:
Ernie Padgett, County Administrator