Title
MOTION TO RELEASE CASH MAINTENANCE BOND FROM G&I VII PEMBROKE PINES RETAIL, LLC CASHIER'S CHECK #0820607001 FROM BANK OF AMERICA IN THE AMOUNT OF $21,651.49 FOR THE WATER AND SEWER IMPROVEMENTS AT WESTFORK PLAZA BUILDINGS "A" & "B".
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. The water and sewer improvements constructed to serve Westfork Plaza Buildings "A" and "B" were accepted by the City of Pembroke Pines on December 20, 2017.
2. The Environmental Services Engineering Division reviewed the re-televised sanitary sewer report and CD dated December 21, 2018 and found them to be acceptable.
3. Recommend City Commission release the Cash Maintenance Bond from G&I VII Pembroke Pines Retail, LLC, Cashier's Check #0820607001 from Bank of America in the amount of $21,651.49 for the water and sewer improvements at Westfork Plaza Buildings "A" & "B".
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:
|
|
Current FY |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|
|
|
|
|
|
|
Expenditures |
1,000 |
1,000 |
1,000 |
1,000 |
1,000 |
Possible water or sewer main breaks.
e) Detail of additional staff requirements: Not Applicable.