Title
MOTION TO RELEASE CASH PERFORMANCE BOND IN THE AMOUNT OF $56,017.34 FOR THE SECOND LIFT OF ASPHALT FOR PARCELS 10 AND 14 AT GRAND PALMS ALSO KNOWN AS THE GROVE AND GROVE ESTATES AT GRAND PALMS WITHIN THE HOLLYWOOD LAKES COUNTRY CLUB INC.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. This motion proposes the release of the cash performance bond in the amount of $56,017.34 associated with the second lift of asphalt for Parcels 10 and 14 at Grand Palms, also known as The Grove and Grove Estates at Grand Palms within the Hollywood Lakes Country Club Inc.
2. The bond was originally posted to ensure the satisfactory completion of this portion of the asphalt work.
3. The Engineering Division has verified completion of the project and it is now being recommended for release.
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Initial Cost: None.
b) Amount budgeted for this item in Account No: Not Applicable
c) Source of funding for difference, if not fully budgeted: Not Applicable
d) 5-year projection of the operational cost of the project: Not Applicable
e) Detail of additional staff requirements: Not Applicable