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Acceptance of Maintenance Bond for Sunrise I-75 Utility Crossing
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BRIEF OVERVIEW
Developer Sunrise Community Development District (CDD) is requesting to enter into the Maintenance Period for the Sunrise I-75 Project. Sunrise CDD has posted a Maintenance Bond in the amount of $298,554.44 for Sunrise I-75 Utility Crossing to secure the related subdivision.
FINANCIAL IMPACT
There are no budgetary impacts associated with the recommended action.
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 26, Code of Ordinances, and Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board accept the maintenance bond in the amount of $298,554.44 for Sunrise I-75 Utility Crossing for a period of 18 months as required by County Ordinance.