R25-062 1 RESOLUTION NO. R25-062
2
3 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON
4 BEACH, FLORIDA, APPROVING THE FULL RELEASE OF PERFORMANCE
5 BOND NO. SU1122232 IN THE AMOUNT OF $540,662 FOR
6 COMPLETING THE CONSTRUCTION WORK AND REQUIRED PUBLIC
7 IMPROVEMENTS ASSOCIATED WITH RAISING CANE'S RESTAURANT;
8 AND FOR ALL OTHER PURPOSES.
9
10 WHEREAS, Pursuant to the City Code of Ordinances, a 110% performance bond for the
11 Land Development Permit was collected for Raising Cane's Restaurant, based on the cost estimate
12 of the duly licensed professional in the State of Florida. The total cost estimate for the
13 improvements was $491,510.80, and the 110% performance bond was $540,662; and
14 WHEREAS, Arch Insurance Company, a surety company authorized to do business in the
15 state of Florida, submitted a Performance Bond on April 20, 2022, for the Raising Cane's
16 Construction Project, in the amount of $540,662; and
17 WHEREAS, the Construction Project has been completed; and
18 WHEREAS, the City Commission, upon the recommendation of staff, has deemed it in the
19 best interests of the city's citizens and residents to approve the full release of Performance Bond
20 No. SU1122232 in the amount of $540,662 for completing the construction work and required
21 public improvements associated with Raising Cane's Restaurant.
22
23 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOYNTON
24 BEACH, FLORIDA, THAT:
25 SECTION 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
26 being true and correct and are hereby made a specific part of this Resolution upon adoption.
27 SECTION 2. The City Commission of the City of Boynton Beach, Florida, does hereby
28 approve the full release of Performance Bond No. SU1122232 in the amount of $540,662 for
29 completing the construction work and required public improvements associated with Raising
30 Cane's Restaurant.
31 SECTION 3. The City Commission of the City of Boynton Beach, Florida, hereby
32 authorizes the Mayor to execute any ancillary documents as may be necessary to accomplish the
33 purpose of this Resolution.
34 SECTION 4. This Resolution shall take effect in accordance with law.
35
4c4-44
36 PASSED AND ADOPTED this /O day of n()a .M 2025.
37CITY OF BOYNTON BEACH, FLORIDA
38 YES NO
39 Mayor— Rebecca Shelton
40
41 Commissioner—Angela Cruz
42
43 C 1T2 -Woodrow L. Hay
44
45 Commissioner—Thomas Turkin
46
47 Commissioner—Aimee Kelley t.,/'
48
49 VOTE -0
50 A ES :
/(
51
52 II, '' . -
53 Mayle: 0 esus, M• L, MMC Rebecca Shelton
54 CityCle
Mayor
55 ----%30Y N7-0`‘
56 % O� ORP�Rgr�.���4 APPROVED AS TO FORM:
57 (Corporate Seal) S��' SEAL•:_
58 I :INCORPORATED: 5 ,Aa(
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59 'I \ 1920 :' '
kw •••......•• Shawna G. Lamb
61 " .CORIDP r' City Attorney
62