R24-126 1 RESOLUTION NO. R24-126
2
3 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON
4 BEACH, FLORIDA, APPROVING THE REDUCTION OF PERFORMANCE BOND
5 NO. L256241 IN THE AMOUNT OF $345,814.32 TO 5% PERFORMANCE
6 BOND IN THE AMOUNT OF $15,718.83 FOR THE COMPLETION OF PAVING,
7 GRADING, AND DRAINAGE IMPROVEMENTS IN ASSOCIATION WITH ST.
8 ANDREWS CLUB; PROVIDING AN EFFECTIVE DATE; AND FOR ALL OTHER
9 PURPOSES.
10
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 St. Andrews Club, based on the cost estimate
13 of the duly licensed professional in the State of Florida. The total cost estimate for the
14 improvements was $314,376.65, and the 110% performance bond was $ 345,814.32; and
15 WHEREAS, per the 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. L256241 in the amount of
25 $345,814.32 to 5% performance bond in the amount of $15,718.83 for the completion of paving,
26 grading, and drainage improvements in association with St. Andrews Club; and
27 WHEREAS, the aforementioned 5% maintenance bond in the amount of $15,718.83 will
28 be retained for a period of one (1) year as the warranty against defect; and
29 WHEREAS, the City Commission, upon recommendation of staff, has deemed it to be in
30 the best interests of the citizens and residents of the City to approve the reduction of Performance
31 Bond No. L256241 in the amount of $345,814.32 to 5% performance bond in the amount of
32 $15,718.83 for the completion of paving, grading, and drainage improvements in association with
33 St. Andrews Club.
34 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOYNTON
35 BEACH, FLORIDA, THAT:
36 SECTION 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
37 being true and correct and are hereby made a specific part of this Resolution upon adoption.
38 SECTION 2. The City Commission of the City of Boynton Beach, Florida, does hereby
39 approve the reduction of Performance Bond No. L256241 in the amount of $345,814.32 to 5%
40 performance bond in the amount of $15,718.83 for the completion of paving, grading, and
41 drainage improvements in association with St. Andrews Club.
42 SECTION 3. This Resolution shall take effect in accordance with law.
43 PASSED AND ADOPTED this 18th day of June 2024.
44 CITY OF BOYNTON BEACH, FLORIDA
45 YES NO
46 Mayor—Ty Pensergav0.--
47
48 Vice Mayor—Aimee Kelley ✓
49
50 Commissioner—Angela Cruz
51
52 Commissioner—Woodrow L. Hay
53
54 Commissioner—Thomas Turkin
55
56 VOTE 9'0
57 A PT:
58
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59 te -40/114(11111W
60 Mayle; De _sus, MPA, MC Ty 'ens: •.
61 City Clerk _ May'.
62 "0•l NTO/1/
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63 ;0..o� F'•;�-, APPROVED AS TO FORM:
64 (Corporate Seal) •; ��� - :� f.
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66 1 f )' h�illQ
67 Shawna G. Lamb
68 City Attorney