R24-125 RESOLUTION NO. R24-125
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3 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON
4 BEACH, FLORIDA, APPROVING THE REDUCTION OF PERFORMANCE BOND
5 NO. 016237559, 9395633 IN THE AMOUNT OF $10,467,695.70 TO 5%
6 PERFORMANCE BOND IN THE AMOUNT OF $475,804.35 FOR THE
7 COMPLETION OF PAVING, GRADING, AND DRAINAGE IMPROVEMENTS IN
8 ASSOCIATION WITH PUBUX DISTRIBUTION CENTER; PROVIDING AN
9 EFFECTIVE DATE; AND FOR ALL OTHER PURPOSES.
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11 WHEREAS, per the City Code of Ordinances Article III. Sec. B., a 110% performance bond
12 for the Land Development Permit was collected for the Publix Distribution Center, based on the
13 cost estimate of the duly licensed professional in the State of Florida. The total cost estimate for
14 the improvements was $9,516,087, and the 110% performance bond was $10,467,695.70; and
15 WHEREAS, per above mentioned Code of Ordinances, from time to time during the
16 progress of the work, the developer may request a reduction in the dollar amount of the surety
17 on the basis of work completed, but in every case, the remaining funds shall be sufficient to cover
18 one hundred ten percent (110%) of the cost to complete the obligation. In the case of surety for
19 required improvements associated with subdivision development, five percent (5%) of the
20 engineer's certified cost of required improvements shall be retained for one (1) year after
21 acceptance of such improvements by the City Commission as a guarantee against defects in
22 workmanship and material; and
23 WHEREAS, the project is now completed, and the Public Works Department Engineering
24 Division requests approval to reduce the Performance Bond No. 016237559, 9395633 in the
25 amount of $10,467,695.70 to 5% performance bond in the amount of $475,804.35 for the
26 completion of paving, grading, and drainage improvements in association with Publix Distribution
27 Center; and
28 WHEREAS, the aforementioned 5% maintenance bond in the amount of $475,804.35 will
29 be retained for a period of one (1) year as the warranty against defect; and
30 WHEREAS, the City Commission, upon recommendation of staff, has deemed it to be in
31 the best interests of the citizens and residents of the City to approve the reduction of Performance
32 Bond No. 016237559, 9395633 in the amount of $10,467,695.70 to 5% performance bond in the
33 amount of $475,804.35 for the completion of paving, grading, and drainage improvements in
34 association with Publix Distribution Center.
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36 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOYNTON
37 BEACH, FLORIDA, THAT:
38 SECTION 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
39 being true and correct and are hereby made a specific part of this Resolution upon adoption.
40 SECTION 2. The City Commission of the City of Boynton Beach, Florida, does hereby
41 approve the reduction of Performance Bond No. 016237559, 9395633 in the amount of
42 $10,467,695.70 to 5% performance bond in the amount of $475,804.35 for the completion of
43 paving, grading, and drainage improvements in association with Publix Distribution Center.
44 SECTION 3. This Resolution shall take effect in accordance with law.
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49 [signatures on following page]
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59 PASSED AND ADOPTED this 18th day of June 2024.
60 CITY OF BOYNTON BEACH, FLORIDA
61 YES NO
62 Mayor-Ty Penserga -Abs-Cn-k"
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64 Vice Mayor-Aimee Kelley ✓
65 ./
66 Commissioner-Angela Cruz
67 LZ
68 Commissioner-Woodrow L. Hay
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70 Commissioner-Thomas Turkin
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72 VOTE _O
73 A "S '
74 /
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76 Mayle: P- esus, MPA, M C T -ns: ,-
77 City Cl- 6-0VNT04‘;`‘‘, May./
79 i/,`:• SEAL• 1i APPROVED AS TO FORM:
80 (Corporate Seal) U:INCORPORATED;
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81 ��, 1920 ; ; A14� 4 , Ain6
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83 ,�".sem F.....LORO'_ Shawna G. Lamb
84 City Attorney