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File #: 19-0089    Version: 1 Name: Maintenance Bond Westfork Plaza
Type: Public Improvements Status: Passed
File created: 1/15/2019 In control: City Commission
On agenda: 2/6/2019 Final action: 2/6/2019
Title: MOTION TO RELEASE CASH MAINTENANCE BOND FROM G&I VII PEMBROKE PINES RETAIL, LLCĀ  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".
Attachments: 1. 1. Copy of Cash Maintenance Bond to be released., 2. 2. Agenda Item dated December 20, 2017., 3. 3. Final Televised Sanitary Sewer ltr. dated 1.9.2019., 4. 4. 19-0089 Cash Bond release Buildings A & B request letter 1.22.2019.pdf

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.