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TO: The Honorable Members DATE. November 20, 198kiLE:, of the Board of County Commissioners DIVISION HEAD CONCURRENCE: SUBJECT: Robert M. Keati g, P Planning & Develop nt Director RELEASE OF THE AMENDED LETTER OF CREDIT HELD FOR IMPROVEMENTS IN THE SANDERLING SUBDIVISION THROUGH: Mike Miller, Chief FROM: Current Develo FERENCES: c Stan Boling Disk: DISK Staff Planner It is requested that the data herein presented be given formal consideration by the Board of County Commissioners at their regular business meeting of December 4, 1985. DESCRIPTION AND CONDITIONS: The developer of the Sanderling Subdivision, Associates Manage- ment Group, Inc. (Thomas H. Collins, President), is requesting the release of the amended letter of credit held to secure -- construction of required improvements in The Sanderling Subdivision. The original letter of credit for $70,000.00 was amended in August and reduced to $1,362.00, which is now being held to guarantee sodding, seeding, and mulching work within the project. ALTERNATIVES AND ANALYSIS: The Public Works Division has inspected the work and has verified that all required improvements have been constructed or provided in an acceptable manner. The Public Works Director has indicated that the remaining portion of the letter of -` credit may now be released. Thus, all terms of the Contract for Construction of Required Improvements for The -Sanderling have been satisfied. RECOMMENDATION: Staff recommends that the Board of County Commissioners adopt the attached resolution, authorizing Barnett Bank of Central Florida to release or terminate the letter of credit NO: 1830 for Associates Management Group, Inc. ON MOTION by Commissioner Scurlock, SECONDED by Commissioner Bird, the Board unanimously adopted Resolution 85-133 authorizing Barnett Bank of Central Florida to release or terminate the amended letter of credit (No. 1830), Associates Management Group, Inc., (Sanderling Subdivision). E EC 4 ISS - BOOK 2 PAGE877