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H. Release of Performance/Maintenance Bond Florence Acres <br />Subdivision <br />The Board reviewed the following memo dated 2/11/86: <br />TO: The Honorable Members of DATE: February 11, 1986 FILE: <br />the Board of County Commissioners <br />THROUGH: <br />Michael Wright, <br />County Administrator SUBJECT: <br />Request for Release of <br />Performance/Maintenance Bond - <br />Florence Acres Subdivision <br />(40th Avenue North of 4th <br />Street) - Peter Sabonjohn - <br />Applicant <br />FROM:James W. Davis, P.E. , REFERENCES: <br />Public Works Director <br />DESCRIPTION AND CONDITIONS <br />Peter Sabonjohn, developer of Florence Acres Subdivision, is requesting <br />release of the $4,100 performance/maintenance bond for Florence Acres <br />Subdivision. This bond was posted in June, 1985, for the following: <br />1) Grassing $1,600 <br />2) Drainage 1,000 <br />3) Road Maintenance 1,500 <br />$4,100 <br />ALTERNATIVES AND ANALYSIS <br />On Feb. 10, 1986, the Public Works staff inspected the Subdivision. <br />Grassing has germinated and the drainage system is functioning. <br />Approximately 600 of the road in the Subdivision (40th Ave) was resurfaced <br />by the developer. Minor drainage erosion and swale maintenance needs to be <br />accomplished. <br />RECOMMENDATION AND FUNDING <br />It is recommended that the $4,100 cash bond be `returned to Mr. Sabonjohn <br />subject to the swales being mowed. Funding to be from the County's escrow <br />account. <br />ON MOTION by Commissioner Wodtke, SECONDED by <br />Commissioner Lyons, the Board unanimously authorized <br />the release of the $4100 cash bond held under the terms <br />of an escrow agreement between Peter Sabonjohn, Jr., <br />Florida National Bank, and Indian River County to <br />guarantee the construction of required improvements in <br />Florence Acres Subdivision, subject to the swales being <br />mowed. <br />17 <br />FEB 19 1996 BOOK 63 F��cF 646 <br />