6.I.
Consent Agenda
4/18/2017  | CITY OF BOYNTON BEACH
AGENDA ITEM REQUEST FORM |
| COMMISSION MEETING DATE: 4/18/2017 | | REQUESTED ACTION BY COMMISSION: Approve release of a cash surety in the amount of $20,000 for the CRA’s pre-payment of the cost for the final lift of asphalt for the Boynton Beach Blvd. Extension Project | | EXPLANATION OF REQUEST: In 2006, the CRA posted a $20,000 cash surety representing the CRA’s pre-payment of the cost for the final lift of asphalt for the Boynton Beach Blvd. Extension Project. The surety was made due to anticipated construction on the Boynton Beach Blvd. Extension by either the Promenade or Ocean One projects. All parties agreed that installing the final layer of asphalt on a road that would be damaged or altered by the Promenade or Ocean One project would have been unproductive.
Recently the City has imposed on the Ocean One Developer, as a condition of approval, the installation of the final lift to the Boynton Beach Extension. Due to this condition, the CRA requests the release and return of its surety. Should this request be granted, the CRA pledges, as an assurance to the City, to complete the installation of the asphalt should the Ocean One Development fail to proceed. The CRA would complete the work within one year of the Ocean One Development’s withdrawal of its application or the projects permit expiration, whichever comes first.
| | HOW WILL THIS AFFECT CITY PROGRAMS OR SERVICES? N/A | | FISCAL IMPACT: Non-budgeted None | | ALTERNATIVES: None | | STRATEGIC PLAN: | | STRATEGIC PLAN APPLICATION: N/A |
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