Title
MOTION TO RELEASE PERFORMANCE BOND #107033987 IN THE AMOUNT OF $337,970.00 FROM ARCO DESIGN/BUILD, INC., ACCEPT THE BILL OF SALE, EASEMENT DEDICATION AND MAINTENANCE BOND #PB11122000054 IN THE AMOUNT OF $18,363.40 FROM SAFSTOR PINES, LLC, (WHICH IS 20% OF THE CERTIFIED COST FOR THE WATER INFRASTRUCTURE ONLY) FOR SAFSTOR LOCATED AT 18900 PINES BLVD.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. WGI the Engineering of Record for the project has certified that the water improvements for SAFStor located at 18900 Pines Boulevard have been completed in accordance with the approved plans and specifications.
2. The Utility Easements which provide for maintenance access to the water improvements are being accepted by the City of Pembroke Pines as part of this motion.
3. The Environmental Services Engineering Division has inspected the improvements and found them to be consistent with the approved plans and specifications.
4. Motion to release Performance Bond #107033987 in the amount of $337,970.00 from ARCO Design/Build, Inc., accept the Bill of Sale, Easement Dedication and Maintenance Bond #PB11122000054 in the amount of $18,363.40 from SAFStor Pines, LLC., (which is 20% of the certified cost for the water infrastructure only) for SAFStor located at 18900 Pines Boulevard.
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: Annual repair and maintenance of approximately $1,000.
|
Current FY |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|
|
|
|
|
|
Expenditures |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
e) Detail of additional staff requirements: Not Applicable.