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Home My WebLink AboutCity of Tamarac Resolution R-98-1481 1 1.1 1 Temp. Reso. #8235 4/24/98 4/28/98 - Rev. #1 5/07/98 - Rev. #2 5/08/98 - Rev. #3 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-98- /' g A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE A PERFORMANCE BOND, STANDBY LETTER OF CREDIT NO. S960457 IN THE AMOUNT OF $44,119.00 SUBJECT TO RECEIPT OF A WARRANTY BOND IN THE AMOUNT OF $12,865.25 AS POSTED FOR PUBLIC IMPROVEMENTS AT KINGS POINT RETAIL PLAZA LOCATED ON THE SOUTHEAST CORNER OF NOB HILL ROAD AND N.W. 77T" STREET; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Lennar Homes, Inc. with SunTrust Bank, as Surety, has filed with the City, Letter of Credit No. S960457, in the amount of $44,119.00 to guarantee public improvements at Kings Point Retail Plaza located on the southeast corner of Nob Hill Road and N.W. 77" Street; and WHEREAS, The facilities have been inspected and found acceptable by the Public Works Engineering Division; and WHEREAS, It is the recommendation of the Public Works Director and City Engineer that the Performance Bond be released, subject to a Warranty Bond in the amount of $12,865.25 pursuant to City Code Section 10-156; and 6 Temp. Reso. #8235 4/24/98 4/28/98 - Rev. #1 5/07/98 - Rev. #2 5108/98 - Rev. #3 WHEREREAS, the City Commission of the City of Tamarac, Florida deems it to be in the best interests of the citizens and residents of the City of Tamarac to release the Performance Bond, Standby Letter of Credit No. S960457, in the amount of $44,119.00, posted for public improvements at Kings Point Retail Plaza, located on the southeast corner of Nob Hill Road and N.W. 77'h Street, subject to receipt of a Warranty Bond in the amount of $12,865.25. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA THAT: SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution. SECTION 2: That the appropriate City Officials are HEREBY AUTHORIZED to release the Performance Bond, Standby Letter of Credit No. S960457, in the amount of $44,119.00 posted for public improvements at Kings Point Retail Plaza located on the southeast corner of Nob Hill Road and N.W. 77`h Street subject to receipt of a Warranty Bond in the amount of $12,865.00. A copy of the Performance Bond is attached as "Exhibit 1." SECTION 3: All Resolutions or parts of Resolutions in conflict herewith are hereby repealed to the extent of such conflict. I L 1 3 Temp. Reso. #8235 4/24/98 4/28/98 - Rev. #1 5/07/98 - Rev. #2 5/08/98 - Rev. #3 SECTION 4: If any provision of this Resolution on the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution that can be given effect without the invalid provision or application, and to this end the provisions of this resolution are declared to be severable. SECTION 5: This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this,7day of lya j , 1998. ATTEST: CAROL GO , CMC/AAE City Clerk HEREBY CERTIFY that I have aDo'r ved this RESOLUTION as MIT.2HELL S. DRAFT(/ U City Attorney (C:USERDATA\AGENDA\TEMP. RESO 8235-BL) JOE SCHREIBER MAYOR MAYOR RECORD CHREIBER MA DIST 1: COW MCKAYE DIST 2: V/M MISHKIN DIST 3: COMM. SULTANDIST 4: COMM. ROBERTf VOTE Temp Reso 8235 E • / / R❑CKF❑RD g� TR28 /j TRP9 c� j' YORKSHIRE T TR30 j% WLLDON Q 3 L A M A 12 ��/N/�013D ............. I AND SE R27 7 / 76 n Cr / m 77 LVAN ELICAL COVENANT is 76 S)- j CHU CH WEST LAKE VILLAS jt KINGS POiN 1 / 7., Cr me WFSTWOOD �- SAI.. FS CENTER - `" & CLUB HFIUSE / j SPRING LAKE O'' PINES TR37 II 7q �(�• jjj; KINGS P f PROF. PLAZA >>'"///// � w IR ASIiMONT C� --7T-T7C 7 � r o � SITE �'/;, /.. . // LOCATION 74 CT o s� ¢ WESTWnn 31A NORTH—o FAR ", CZR g B F L.. F 11 R 95 o W. 73 C7 _.� �;ELFn�� —CI� SOU r R ----- - - -- /3 ST m // H HIDTJFN I R42 SECTION 21 // o TR40 �.., 4F 72 CT NOD HILL/ WESTW❑❑D PLAT TR41 POINT PLAZA WESTW❑❑D DF 72 7d 71 S I o � 79 S f 70 PL SECTI❑N 22 p o j SFCTION 21 jj 70 PL Q ¢ m 70 CT /j ES I WOOD 4 Li Q ry 7 a WL TWOOD 3 70 ST /jj 70 S f 70 ST m MCNAB ROAD �Y J & J PLAT TAMARAC N 0cc) a TAM A AC MARKET 6S PL �� GAR FNS [AMARAC PLACE GARDLNSi�/ EASE W ST KPCOMMPL...DV KINGS POINT RETAIL PLAZA Attachmen i E Temp Reso 8235 LAND DEVELOPMENT REGULATIONS location. The city has established a third - order bench mark network throughout that portion of the city situated west of the Florida Turnpike for the purpose of pro- viding vertical control for the orderly growth of the western portions of the city. A list of such bench marks and their loca- tions is on file with the city building de- partment and the city engineer, and is avail- able to all interested parties. (b) Bench marks shall be placed on permanent reference monuments or equally stable objects that are easily recognized, easily found and not likely to move. (c) Bench marks as described above shall be equivalent to third -order and be established in conformance with the Standards of Practice pro- mulgated by The Florida Society of Professional Land Surveyors. (Code 1975, § 24-5) Sec. 10-156. Public improvement bonds. (a) Prior to the issuance of any permit, other than for clearing and grubbing (section 10-154(c)), a water and sewer developer's agreement, which sets forth the phasing'and timing of the payment of all required fees and the submittal and ap- proval of the improvement bond is required. A letter of credit will be required to ensure payment of city fees and guarantee completion of improve- ments. The bond shall be posted by the developer or his general contractor with the city in the amount of one hundred (100) percent of the item- ized estimated cost, prepared and certified by an engineer registered in the state, of all required public improvements, including, but not limited to, those listed in section 10-154(a). This bond shall be cash, irrevocable bank letter of credit, a cash- ier's check or other negotiable instrument, or a surety bond written by a company listed in the latest revision of circular 470 standard Surety Companies Acceptable on Federal Bonds. Also ac- ceptable is a letter from a savings and loan or commercial bank stating that: (1) It has committed funds in an amount equal to the cost of the project; 0 10.156 (2) Moneys will be disbursed as work is done but only after inspection and approval by the design engineers and approval of the bank's engineers; (3) The work will be completed in accordance with the approved engineering drawings and specifications as well as all applicable city ordinances; (4) The bank or savings and loan guarantees completion if the developer does not com- plete; (5) It is holding a separate collateral account in an amount equal to twenty-five (25) per. cent of the cost of the improvements, which moneys are to remain available one (1) year after formal approval and acceptance of sub. division improvement by the city, together with any needed corrections or insufficien- cies in design, workmanship and/or mate- rials which are found within one (1) year of the date of formal acceptance; and (6) The moneys held will be released to the city upon demand if the city certifies that the work is not being done in accordance with specifications and drawings. All bonds shall be approved by the city attorney (as to form) and the city engineer (as to dollar amount). Either may require such terms and/or conditions as they deem necessary for the protec- tion of the city. The bond shall guarantee the com- pletion of all stipulated improvements in accor- dance with the approved engineering plans and within a specified time period, approved by the city engineer and the city council. (b) The bond shall remain in full force until the improvements have been accepted by resolution of the city council and a one-year warranty bond of twenty-five (25) percent of the certified actual costs, but not less than twenty-five (25) percent of the original performance bond, has been submitted to the city. This bond shall be cash, irrevocable bank letter of credit, cashier's check or other ne- gotiable instrument, or a surety bond written by a company listed in the latest revision of circular 570 standard Surety Companies Acceptable on Federal Bonds. Supp. No. 13 673 Temp Reso 8235 § 10-156 (c) If the principal (developer or contractor) fails or refuses to correct insufficiencies in workman- ship and/or materials within ninety (90) days after written notice by the city engineer, then the city shall have the right, pursuant to public advertise- ment and receipt and acceptance of bids, to cause the insufficiencies in design, workmanship and/or materials to be corrected. In such case, the prin- cipal and surety (to the extent of his bond) shall be jointly and severally liable hereunder to pay to and indemnify the city upon the correction of the insufficiencies in workmanship and/or materials, the full total cost thereof, including but not lim- ited to, engineering, legal and contingent costs together with any damage, direct or consequen- tial, which the city may sustain on account of the failure of the principal to comply with all of the requirements hereof. (d) The procedure for release of the improve- ment performance bond shall be as follows: (1) Upon completion of the improvements, the developer shall submit to the city engineer as -built drawings and certified actual costs, and at the same time request final inspec- tion by the engineering department. All ac- tual costs shall be certified by a registered engineer. (2) Within thirty (30) working days, the city engineer will either: a. Approve the improvements in writing and recommend to the city council the acceptance of the improvements and the release of the bond; or b. Inform the developer, in writing, of any discrepancies in the improvements re- lated to the approved engineering draw- ings and/or any faults with the as -built drawings. (3) If (2)b. occurs, the developer shall make the necessary corrections and upon completion request an inspection by the engineering department for verification that the correc- tions have been made, or submit the cor- rected as -built, whatever the case may be. (4) The city council shall, upon receipt of the favorable engineering recommendation, for the next council meeting, place on the T"AMARAC CODE agenda for discussion and possible action, the resolution accepting the improvements and releasing the bond subject to the de- livery of the twenty -five -percent warranty bond. (5) The twenty -five -percent warranty bond shall stand against all insufficiencies, in- cluding but not limited to design (in accor- dance with this article or as may be amended), workmanship and materials in- cluded in the accepted improvements as shown on the record drawings and detailed specifications that are discovered within one (1) year of the date the work has been ac- cepted by resolution of the city council. The developer shall request the city engineer to reinspect the improvements one (1) year after their acceptance. Unless reinspection shows deficiencies, the bond shall be placed on the agenda for city council action. (e) Nothing in this article shall affect bonds posted under ordinances in effect prior to July 13, 1978. However, any developer who has entered into a developer's agreement with the city wherein the developer has agreed to comply with all of the terms of Temporary Ordinance No. 501 (from which this article is derived) shall comply with all of the terms of this article, including those provi- sions pertaining to public improvement bonds. (Code 1975, § 24-6; Ord. No. 93-23, § 5, 9-8-93)- Sec. 10-157. Site development improvement permit. Following approval of the final site develop- ment plan by the city council and posting of all required public improvement bonds and payment of fees, the owner of the land being developed, or his bona fide agent, is required to take out an improvement permit with the city for all land im- provements occurring on public or private prop-. erty. No improvement or alteration of any ex- isting public or private property or utility shall be allowed without a city improvement permit is- sued for such specific improvement. The permit shall be visibly displayed at all times during con- struction. As a condition of the improvement permit other than for clearing and grubbing, a copy of the approved record drawings furnished Supp. No. 13 674 Exhibit 1 0 SUNTRUST is Temp Reso 8235 SUNTRUST BANK, MIAMI, N.A. IRREVOCABLE STANDBY LETTER OF CREDIT NO. S960457 JUNE 14, 1996 r BENEFICIARY: APPLICANT: s y CITY OF TAMARAC LENNAR HOMES, INC. 7525N.W.' $$TH AVE. "700 NW' 107TH AVENUE TAMARAC, FL. 33321 MIAMI,, FL 33172 AMOUNT: USD.44,119.00,, DATE OF,EXPIRY : JUNE 14,.1997 " c° PLACE OF EXPIRY: AT OUR COUNTERS s s•• BY ORDER OF OUR CLIENT,' LENNAR HOMES INC., 700 N.W. 107TH AVENUE,>MIAMI, FL.33172, WE''HEREBY OPEN OUR IRREVOCABLE LETTER �,b� OF CREDIT NUMBER S960457 IN YOUR FAVOR FOR AN AMOUNT NOT TO EXCEED IN THE AGGREGATE,U.S. DOLLARS USD 44 119.00.(RORT ,,FOUR THOUSAND ONE HUNDRED NINETEEN AND 00/100 U.S. DOLLARS) EFFECTIVE A ELY AND EXPIRING AS..STATE D HEREIN AT OUR,:SUNTRUST, MIAMI , IMMEDI3737 N.A. NW 87TH AVENUE MIAMI FL. 33178 OFFICE. r r WITHOUT OBLIGATION ON OUR PART, WE„ARE ADVISED THAT THIS IRREVOCABLE'LETTER-OF CREDITIS TO. 'ENSURE THE CORRECTION`OF ALL INSUFFICIENCIES IN DESIGN, WORKMANSHIP AND/OR MATERIALS WHICH` ARE FOUND WITHIN (1)-YEAR OF THE DATE OF THE FORMAL'ACCEPTANCE OF THE IMPROVEMENTS, OF THE CITY OF TAMARAC FOR THE INSTALLATION - OF PUBLIC IMPROVEMENTS INDICATED ON CERTIFIED COST ESTIMATE �..� DATE APRIL 2, 1996 AND APPROVED BY THE CITY ENGINEER FOR.PAVING AND DRAINAGE INSTALLATION FOR'KINGS POINT RETAIL PLAZA AND S DEVELOPER'S OBLIGATION TO COMPLY WITH THE REQUIREMENT OF TAMARAC c;V CITY CODE SECTION'10-156. .• THE CITY IS AUTHORIZED TO DRAW DRAFTS AT SIGHT ACCOMPANIED'SY A SIGNED STATEMENT FROM THE CITY OF TAMARAC OR ITS' AUTHORIZED REPRESENTATIVE THAT: "THE UNDERSIGNED, AN AUTHORIZED REPRESENTATIVE OF THE CITY OF TAMARAC, HEREBY CERTIFIES THAT: (A) THE DRAWING IS DUE TO LENNAR HOMES, INC.'S FAILURE TO CORRECT ALL INSUFFICIENCIES IN DESIGN, WORKMANSHIP AND/OR MATERIALS WHICH ARE FOUND WITHIN ONE (1) YEAR OF THE DATE OF THE FORMAL ACCEPTANCE OF THE PUBLIC IMPROVEMENTS BY THE CITY COMMISSION OF THE CITY OF TAMARAC, OR (B) THAT THE DEVELOPER'S OBLIGATIONS HAVE NOT BEEN COMPLETED, OR THE CITY OF TAMARAC HAS BEEN NOTIFIED THAT THE BOND WILL NOT BE EXTENDED, OR (C) THAT THE CITY OF TAMARAC HAS BEEN NOTIFIED THAT THE BOND WILL NOT BE EXTENDED." THE ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS, MUST BE PRESENTED WITH ANY DRAWING HEREUNDER. All correspondence and communication should be directed to our agent SunTrust International services, Inc., 3737 N.W. 87th Avenue, Miami, Florida 33178 Swift: SNBOUS3M Telex: 6734609 0 0 0 SUNTRUST C� Temp Reso 8235 THIS LETTER OF CREDIT SHALL BE AUTOMATICALLY RENEWED, WITHOUT AMENDMENT, FOR SUCCESSIVE PERIODS OF ONE (1) YEAR EACH, UNLESS WE PROVIDE WRITTEN NOTICE TO THE CITY CLERK VIA REGISTERED MAIL, OR SPECIAL COURIER, THAT WE ELECT NOT TO RENEW THE CREDIT FOR AN ADDITIONAL PERIOD, WHICH NOTICE MUST BE PROVIDED AT LEAST SIXTY (60) DAYS PRIOR TO THE EXPIRATION DATE OF THE ORIGINAL TERM HEREOF OR ANY RENEWED ONE (1) YEAR TERM, OR; UNLESS THE CITY OF TAMARAC RETURNS THE ORIGINAL LETTER OF CREDIT TOGETHER WITH WRITTEN NOTIFICATION,THAT IT MAY BE TERMINATED _•i-„ PRIOR TO THE THEN CURRENT EXPIRATION' DATE. WE ENGAGE WITH YOU THAT' kACH DRAFT 'DRAWNUNDER AN N STRICT' Md 4 ,LET "';.... COMPLIANCE WITH THE TERMS AND CONDITIQN:S OF,,, THISTER OF s . CREDIT WILL BE DULY HONORED`IF PRESENTED AT'THIS,'OFFICE ON OR BEFORE THE EXPIRATION, :DAZE -OF .THIS, LETTER QF,, CRED,IT OR ANY EXTENDED DATE AS'PROVIDED FOR HEREIN. All correspondence and communication should be directed to our agent SunTrust international Services, Inc., 3737 N.W. 87th Avenue, Miami, Florida 33178 Swift: SNBOUS3M Telex: 6734609 9 • Temp Reso 8235 • rI • CER11 'IED ACI'UA�/, COST EROILCT NAME. rJA o, YLA DEYELOPE E TOTAL, COST FEE AMOUNT Private Public % Fee Private Public Site Preparation 211 z , sv 7.15 Z / , Z_Tj Paving and Drainage 2— Y2_9 7 33 y,119 &25 Z0 oyssb a P60.81 Sewer Collection 8.25 Water Distribution 7.15 Sidewalks, Curbs &Gutter 9. ya / z6./D 8,25 1 �'yf gp /2 9T• �O Street, Median cuts (*see below) each* Landscaping 7.15 Q Asphalt resurfacing 2.00 0 Clearing and Grubbing 50 3,5- O 7.15 TOTALS: a) (�/,� z� zsao� ti �0.5• TOTAL public improvements from the est. cost b) yy. H i JD * TOTAL Fee: 3o y7?-G LESS fees paid: 2l 321Y 3 * BALANCE DUE: (p 15 „ 3 O CERTIFICATE: *FEES ARE NON-REFUNDABLE I hereby certify that this estimate is true and correct to the best of my knowledge and belief and represents the site development costs for the project. z e,� a291� D/ Date Project Engineer Reg. No. Public Improvement Warranty Bond the greater of "a)" or "b)" above: Cost 00X 25% Approval by the City Engineer: Date: Remarks: *Streets more than 2 years old, $ 50.00 x numbers of lanes (`) Median cut with stacking lane, $250.00 x number of median cuts Median cut w/o stack lane or w/curb cut, $200 x no of median cuts ( ) = Median cut w/o stack lane or curb cut, $50.00 x no of median cuts ( ) Jack and Bore, 75% of above (Reso. 83-130) ( 1= FOR SECURITY PURPOSES. I HE BORDER OF THIS LNR CIRPaAATE OVERHEAD pr�C 000826 i 760 Nd 107TH AVENUE 41AM1 FL 33172-0000 70-232a719 Bank of America, Illinois. chipago, lilinms 60697 1 Date Check No. AMOUNT 3125/98 825 EXACTLY $51L53 tDOLLAIS 4;V7 3) CENTS $6,153.30 Pay TO CITY IF T A 4 4 a A C Vold After 180 Days The 7525 N.W. 3 3 T H. AVE* --Authorized presentative: Order TAM A14C EL 3321D-001) Y Ake� Of Two signatures required if amount exceeds $25,000.00