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WARRANTY & MAINTENANCE BOND/COLONIAL -GARDENS /PHASE H The Board reviewed a Memorandum of November 2, 1994: TO: James E. Chandler County Administrator DI ION HEAD CON NCE: Robe M. R a iin A Community Develo , enDirector THROUGH: Stan Boling, AICP Planning Director FROM: John W. McCoy, AICP�aA Senior Planner, Current Development DATE: November 2, 1994 SUBJECT: Request for Authorization to Draw Upon a Warranty & Maintenance Bond for Colonial Gardens Phase II It is requested that the data herein presented be given formal consideration by the Board of County Commissioners at its regular meeting of November S. 1994. DESCRIPTION AND CONDITIONS: On October 5, 1993, the Board of County Commissioners granted final plat approval for Colonial Gardens Phase II. Colonial Gardens Phase II is a 43 lot subdivision located just west of Old Dixie Highway,,. north of 9th Street. At -the time of final plat approval, all required subdivision improvements had been constructed, and a certificate of completion had been issued. Some of the improvements were publicly dedicated. As a requirement for final plat approval with publicly dedicated improvements, a warranty and maintenance agreement was executed, and the developer posted with -the-county a letter of -credit in the amount of 25% of the cost of the construction of the required improvements (letter of credit amount: $29,500). As a result of the warranty and maintenance inspection, a flooding problem was discovered at the west end of the subdivision. To ensure that the necessary drainage corrections will be made, the Board must now draw upon the developer's maintenance bond to guarantee that sufficient funds will be available to the county, if the county will -have to make the necessary drainage improvements. 25 November 8, 1994 I