Subject:
Title
Release of a maintenance surety in the amount of $51,700.00 to Edgewater Valor Capital, LLC. The maintenance surety was held as the completion surety for temporary use in the right-of-way at 1919 Edgewater Dr Clearwater, Edgewater Valor Capital, LLC.
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Recommended Action:
Recommended Action
Approval by the County Administrator to release the maintenance surety to Edgewater Valor Capital, LLC. The surety was provided in the form of certified funds.
• The maintenance surety was required to cover potential damage to the right-of-way at 1919 Edgewater Dr, Clearwater, FL 33755
• The right-of-way has been inspected by the Public Works Department and found to be complete and acceptable.
• The remaining maintenance surety amount of $51,700.00 can be returned to:
Edgewater Valor Capital, LLC
400 Cleveland Street
Clearwater, FL 33755
Body
Strategic Priorities:
Resilient Infrastructure and Environment
1.2 Maintain and Enhance County Infrastructure
Prosperity and Opportunity
3.5 Foster business growth
Smart Service Delivery
4.2 Achieve and maintain a high level of customer satisfaction
Summary:
•The maintenance surety was required for to cover potential damage to the right-of-way at 1919 Edgewater Dr Clearwater, FL. The original surety was in the form of certified funds in the amount of $258,500.00 to be held as the completion surety for right-of-way utilization permit 20-0839, 20-0840 and 20-0841.
•The work has been inspected by the Public Works Department and found to be complete and acceptable.
•The remaining maintenance surety amount of $51,700.00 can be released to Edgewater Valor Capital, LLC.
Background/Explanation:
The maintenance surety was required for to cover potential damage to the right-of-way at 1919 Edgewater Dr Clearwater. The Public Works Department has inspected the site and advised the work was found to be complete and acceptable. The county is prepared to release $51,700.00 of the maintenance completion surety to applicant.
Fiscal Impact:
N/A
Delegated Authority:
Authority for the County Administrator to sign this release of surety is granted under Code Section 2-62 (a)(5).
Staff Member Responsible:
Kevin McAndrew, Director, Development Review Services
Partners:
N/A
Attachments:
Release Backup Package
Table of Release
County Map