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DEC 18 1985 $ooK 63 FACE 22 I. Release Remaining Escrowed Funds - Atlantis Subdivision The Board reviewed memo of Staff Planner Boling: TO: The Honorable Members DATE: December 10, 1985 FILE: of the Board of County Commissioners DIVISION HEAD CONCURRENCE: SUBJECT: RELEASE OF REMAINING Obert M. Keats g, A ESCROWED FUNDS HELD FOR Planning & Development Director IMPROVEMENTS IN ATLANTIS SUBDIVISION THROUGH: Mike Miller, Chief M N Current Development Director FROM: Stan Boling -4, 61 REFERENCES:. Staff Planner It is requested that the data herein presented be given formal con- sideration by the Board of County Commissioners at their regular meeting of December 18, 1985. DESCRIPTIONS AND CONDITIONS: The developer of Atlantis Subdivision, Salama Development Corporation, through its agent, Lloyd & Associates, Inc., is requesting the release of the remaining funds ($874.00) held in escrow under the terms of a three party agreement executed by the County. ALTERNATIVE AND ANALYSIS The Public Works Division has inspected the improvements, is satisfied with the work performed and has verified that all required improvements are now complete. Public Works has recommended that the remaining funds be released. RECOMMENDATION Staff recommends that the Board of County Commissioners adopt the attached resolution authorizing the release of the funds remaining in the Atlantis Subdivision escrow account, held by United Savings of America, to the developer or any third party or parties upon which the developer and bank agree. ON MOTION by Commissioner Scurlock, SECONDED by Commissioner Wodtke, the Board unanimously adopted Resolution 85-138 approving release of the remaining escrowed funds held for improvements in Atlantis Subdivision in the amount of $874 to Salama Develop- ment Corporation. 22