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07/09/2019 10.A.2. <br />105.04(c) — Bidding Procedures — Bid Bonds <br />and Other Bid Security <br />• Current: $25,000 <br />• Since 1990 <br />• Proposed: Increase to $35,000 <br />• Administrator has authorized increase to bid threshold (as established in <br />Purchasing Manual) to $35,000 <br />• Matches current State of Florida's competitive solicitation threshold <br />• Matches FEMA Small Purchase threshold <br />• GOAL: Match proposed increase to bid threshold <br />• GOAL: Enable more participation in bids <br />105.04(h)— Payment and Performance Bonds <br />• Current: Separate payment and performance bonds are required <br />• Each for 100% of contract cost <br />• Statute only requires single bond cover payment and performance <br />• Proposed: Reference as single payment and performance bond <br />• GOAL: Align with Florida Statute 255.05 <br />13Z " 5 <br />