SUBJECT
title
Accept a one-year warranty and surety in the amount of $187,040.45 in the form of Maintenance Bond No. LICX1984330 for Cascades Subdivision Phase 3. (No Fiscal Impact)
body
DESCRIPTION
This request is to accept a one-year warranty and surety in the amount of $187,040.45 in the form of Maintenance Bond No. LICX1984330, which represents 10% of the cost of the publicly dedicated infrastructure for ownership, operation and maintenance responsibilities for Cascades Subdivision Phase 3 per Utilities Code Section 4.03.B.2. This warranty is for a one-year period beginning with the Board’s acceptance. This one-year warranty period begins on February 18, 2025, and ends on February 18, 2026.
RECOMMENDATION
Request Board accept a one-year warranty expiring on February 18, 2026, and a Maintenance Bond in the amount of $187,040.45 for Cascades Subdivision Phase 3.
FISCAL IMPACT
No Fiscal Impact
CONTACT INFORMATION
Rebecca Marvin
Land Development
863-534-6490
rebeccamarvin@polk-county.net