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<br /> <br /> <br />County Attorney Collins understood that Commissioner Davis was asking for a <br />bond to warranty performance of the actual construction. The requirement is for cash or letter of <br />credit (125%) for construction. But for maintenance he understood the Board wanted 25% cash, a <br />letter of credit or a performance bond by a company with a rating of A+15. If that is what the <br />Board wants, he could bring back an amendment to that part of the ordinance. <br />Commissioner Wheeler pointed out the County has had many new subdivisions in <br />recent years and very few were a problem like Oak Chase. He specified that he believed the Board <br />wanted a 3-year warranty, not a 1-year, and he felt for the most part we would never have to call <br />the performance bond. He thought it a good compromise that would work to everybody’s benefit <br />to require a bond strictly for the 3-year warranty. <br /> <br />ON MOTION by Commissioner Wheeler, SECONDED by <br />Commissioner Davis, the Board unanimously directed the <br />County Attorney to bring back an Ordinance that allows <br />(3-year) security for Maintenance (Warranty) in the form of <br />cash, letter of credit or performance bonds to be posted by a <br />company that has a credit rating of A+15. <br /> <br />The Chairman called for adjournment but when the Commissioners began to rise <br />they noticed a speaker had come to the podium. The Commissioners resumed their seats and the <br />Chairman allowed the speaker to proceed. <br />Doug Engle, <br />504 N. Harbor City Boulevard, Melbourne, advised he is a principal in <br />thst <br />the Lakes at Sandridge development at 58 Avenue and 81 Street. <br />County Attorney Collins recounted that he had spoken with Mr. Engle who is <br />looking for a certificate of completion (CO) on 25 homes. Mr. Engle’s concern is we are no longer <br />accepting a bond for maintenance security. He thought the solution to Mr. Engle’s problem would <br />be to allow staff to accept maintenance bonds under the pending ordinance doctrine. This would <br />get Mr. Engle’s project “off the hook” and allow him to close on the houses he built. <br />August 2, 2005 27 <br /> <br />