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TO: The Honorable Members DATE: October 29, 1985 FILE: <br />of the Board of County <br />Commissioners <br />DIVISION HEAD CONCURRENCE: RELEASE OF A PORTION OF <br />SUBJECT: REMAINING ESCROWED FUNDS <br />. HELD FOR IMPROVEMENTS IN <br />Robert . Keati g, CP ATLANTIS SUBDIVISION <br />Planning„& Development Director <br />FROM: Stan Boling 4, 6• REFERENCES: E <br />Staff Planner SPACE <br />It is requested that the data herein presented be given formal <br />consideration by the Board of County Commissioners at their <br />regular business meeting of November 6, 1985. <br />DESCRIPTION AND CONDITIONS: <br />The developer of Atlantis Subdivision, Salama Development <br />Corporation, through its agent, Lloyd & Associates, Inc., is <br />requesting the release of a portion of the $9,890.00 held in <br />escrow under the terms of a three party agreement executed by <br />the County on March 20, 1985. The $9,890.00 remaining.in the <br />United Savings of America escrow account covers clean-up work <br />and the construction of a required dune crossover. All but a <br />small portion of the crossover (a gazebo) remains to be <br />constructed. The developer is requesting the release of <br />$9,016,00 so that he can pay for the crossover construction and <br />have the job completed. <br />ALTERNATIVE AND ANALYSIS: <br />The Public Works Division has inspected the improvements and is <br />satisfied with the work performed. Public Works is in <br />agreement with the request. <br />RECOMMENDATION: <br />Staff recommends that the Board of County Commissioners adopt <br />the attached resolution authorizing the release of $9,016.00 <br />from the funds remaining in the Atlantis Subdivision escrow <br />account, held by United Savings of America, to the developer, <br />and authorizing the remaining $874.00 to remain in the escrow <br />account. <br />ON MOTION by Commissioner Scurlock, SECONDED <br />by Commissioner Bowman, the Board unanimously <br />(4-0) approved Resolution 85-129 authorizing <br />the release of $9,016 to Salama Development <br />Corporation from the funds remaining in the <br />Atlantis Subdivision escrow account, the <br />balance of $874 to remain in escrow. <br />13 <br />411. <br />NOV 6 1985 EK PA -1E 639, <br />L-- ._ <br />