SUBJECT
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Accept a Performance Surety in the amount of $5,693,471.50 in the form of an Irrevocable Letter of Credit No. FGAC-25005 for Garden Hills at Providence - Phase 3.
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DESCRIPTION
This request is to accept a Performance Surety in the form of an Irrevocable Letter of Credit No. FGAC-25005 in the amount of $5,693,471.50 for outstanding construction items listed in the engineer’s cost estimate. On November 5, 2024, the Board approved Garden Hills at Providence - Phase 3 Plat for conditional approval. The Land Development Division has reviewed and recommends acceptance of this performance surety.
RECOMMENDATION
Request Board accept a Performance Surety in the form of an Irrevocable Letter of Credit No. FGAC-25005 in the amount of $5,693,471.50 for Garden Hills at Providence - Phase 3.
FISCAL IMPACT
No Fiscal Impact
CONTACT INFORMATION
Rebecca Marvin
Land Development Division
863-534-6490
rebeccamarvin@polk-county.net