SUBJECT
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Accept a surety amendment to Irrevocable Letter of Credit No. 3011 from Nichols Ranch, LLC in the amount of $31,864.36 for BB-1 Mine. (No fiscal impact)
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DESCRIPTION
On July 7, 2020, the Board accepted Irrevocable Letter of Credit No. 3011 in the amount of $31,864.36 from Nichols Ranch, LLC for the lifetime of the mine. The surety is required as part of Condition #6 of the Conditional Use approval for the subject mine, which states: “Prior to Level 2 Review Approval, the applicant shall provide a surety, to be determined by the County Engineer, to guarantee the cost of repairing any damage to CR 676 or Anderson Road (the haul route per Condition #4) as a result of the mining operation. This shall include damage to the pavement and the shoulders.” The Land Development Division has reviewed and recommends acceptance of this amendment to the surety.
RECOMMENDATION
Request Board accept Irrevocable Letter of Credit No. 3011 amendment from Nichols Ranch, LLC in the amount of $31,864.36 with an expiration date of October 1, 2029, for BB-1 Mine.
FISCAL IMPACT
No Fiscal Impact
CONTACT INFORMATION
Chrissy Irons
Land Development
863-534-6493
chrissyirons@polk-county.net