Loading...
Item 06 Approval of Maintenance, Material, and Workmanship Agreement with Inland Group LLC for Inland Group Buildingiko,ld a AGENDA ITEM COVER SHEET Meeting Date: November 1, 2022 Item Contact Name: Martrivus Keaton, /V) Development Engineer Contact Number: 407-554-7109 Reviewed By: Department Director: Michael R City Manager: Robert Fra Background Summary: The Inland Group building is located on the northeast corner of Palm Dr. and E. Crown Point Rd. The property consist of (1) a two-story, 14,710-square-foot office building. The infrastructure improvements include potable water, sanitary sewer, other private utilities, a stormwater collection system, and associated landscaping. Identified punch list repairs are currently being completed, and the developer is nearly ready to start the two-year warranty period for the public improvements. As a requirement of the Land Development Code, the developer is required to furnish the City a Surety to cover any possible damages discovered during the next two years. Should the developer not choose to make those repairs, Inland Group LLC has provided the City with an Escrow in the amount of 10% of the constructed improvements. The Escrow provided is for a grand total of $2,020.00. The attached Maintenance, Materials, and Workmanship Agreements (Form 8 from the Land Development Code) acts as the executable document between the developer and the City. The Surety will be returned to the developer upon completion of the two-year warranty period and the repair of any damages caused over those two years. Issue: Should the City accept the Surety as provided by Inland Group LLC, for the two-year warranty for Inland Group Building and execute the Maintenance, Materials, and Workmanship Agreement? Recommendations: The Development Services Department recommends the acceptance of the Surety and the execution of the Maintenance, Materials, and Workmanship Agreement with Inland Group LLC, for the Inland Group Building. Attachments: 1. Maintenance, Materials, and Workmanship Agreement with Inland Group LLC 2. Surety check #518320 in the amount of $2,020.00. Issued by Chase Bank. Financial Impact: There are no financial impacts to the City in accepting this two-year warranty Surety. ESCROW AGREEMENT This Agreement is entered into this day of , 2022, by Inland Groin, hereinafter referred to as "Developer," and the City of Ocoee, a Florida municipal corporation, hereinafter referred to as the "City". WHEREAS, Developer is the owner of certain real property located in Orange County, Florida more fully described in the attached Exhibit "A" which exhibit is incorporated herein by this reference (the "Property"); and WHEREAS, Developer has developed and constructed on the property, a subdivision known as 777 Palm Drive (the "Subdivision") and in connection therewith has installed with the approval of the City certain roads, streets, sewers, water systems, drainage works, and/or other improvements (the "Improvements") under the provisions, conditions, and requirements of the City's Subdivision Regulations and the subdivision approval granted the 41h day of October, 2021, by the Board of City Commissioners; and WHERE AS, under Section 4-4, Subdivision Review Process, of the City's Land Development Code, Developer is required to warrant the maintenance, materials, and workmanship of the Improvements constructed by Developer within the Subdivision; and WHEREAS, Section 4-4, Subdivision Review Process, of the City's Land Development Code provide that Developer may guaranty such maintenance, materials, and workmanship by placing a cash escrow with the City; and WHE REAS, Developer wishes to establish an escrow fund in order to guaranty the maintenance, materials, and workmanship of the Improvements within the Subdivision as required by Section 4-4, Subdivision Review Process, of the Land Development Code. NOW THEREFORE, the parties agree as follows: Developer does hereby establish an escrow fund with the City in the amount of $2,020.00 to guaranty the maintenance, materials, workmanship, and structural integrity of the Improvements. This escrow fund shall be placed by the City in an account at a local financial institution and shall be disbursed only in accord with the terms of this Agreement. IN WITNESS WHEREOF, the parties hereto have caused these presents to be signed as of the date and year first above written. Signed, sealed and delivered in the presence of: ATTEST: -2 City Clerk (SEAL) For the use and reliance by the City of Ocoee only. Approved as to form and legality this day of 20 SHUFFIELD, LOWMAN & WILSON, P.A. By: City Attorney FITRITIIIIIIIJOR—j". GOLAAD , a Florida By: S-Av-\ Print Name: S'+O-,vl Its: s. CITY: CITY OF OCOEE, FLORIDA, a Florida municipal corporation A: Mayor Approved by the Ocoee City Commission at a meeting held on 20_ under Agenda Item No. Parcel |O13-22-27-OUO4-D1-OU2located ot777Palm Dr. Ocoee, FL347O1 3210 Friendly Ave Orlando, FL 32808 I PAY TO THE CITY OF OCOEE ORDER OF Two Thousand Twenty and 001100 CITY OF OCOEE MEMO MW F R 777 PALM R II® :