Title
MOTION TO RELEASE PERFORMANCE BOND #2555753 IN THE AMOUNT OF $356,898.11 FROM SOUTHWEST HAMMOCKS, LLLP., ACCEPT THE MAINTENANCE BOND #2555762 IN THE AMOUNT OF $46,127.90 (WHICH IS 20% OF THE CERTIFIED ENGINEER OF RECORD'S COSTS FOR WATER & SEWER IMPROVEMENTS) FOR SOUTHWEST HAMMOCKS - PINES HEALTH PARK, LOCATED AT 8201 PEMBROKE ROAD, PEMBROKE PINES, FL 33025
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. Certification of Completion:
The Engineer of Record, Winningham & Fradley, has certified that the water and sewer improvements for Southwest Hammocks - Pines Health Park, located at 8201 Pembroke Road, Pembroke Pines, FL 33025, under permits ENG2022-0097 and ENG2022-0085, have been completed in accordance with approved plans and to the satisfaction of the City’s Engineering Division.
2. Conditions Met for Final Acceptance:
The developer has satisfied all required conditions for final acceptance of the improvements. Therefore, the Performance Bond #2555753, in the amount of $356,898.11, originally posted to guarantee completion, is now eligible for release.
3. Maintenance Bond Received:
A Maintenance Bond #2555762 in the amount of $46,127.90 (representing 20% of the certified Engineer of Record's water and sewer improvement costs) has been submitted to cover any maintenance issues that may arise during the warranty period. This bond serves to protect public infrastructure during the post-construction phase.
4. Inspection and Approval:
The Engineering Division has conducted final inspections and confirms that the installed improvements conform to the approved plans and specifications.
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...
Click here for full text