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CITY OF CENTERVILLE <br />REQUEST FOR <br />COUNCIL ACTION <br />Agenda Item # Department: Requested Council Meeting Date: <br />April9,2025 <br />Administration/Finance <br />IX.2 <br />TITLE OF ISSUE: <br />AuthorizingReleaseofAmazonInfrastructureEscrow <br />BACKGROUND AND SUPPLEMENTAL INFORMATION: <br />A number of securities (escrows & bonds) were posted by Ryan Companies on behalf of Amazon with the <br />execution of the developer's agreement for their site. Ryan Co. has requested full release of the infrastructure <br />escrow. The work has been completed and approved.The two year infrastructure warranty period has passed <br />with no issues regarding the water main according to Public Works staff members. <br />Infrastructure Escrow - $105,000 - Recommended - Full release <br />Sound Mitigation Escrow - $80,000 - Recommended - Release after successful planting of trees & sound wrap <br />Traffic Escrow - $650,000 - Recommended = Commit funds by 6/21/32 and expend by 6/21/37 <br />COST AND SOURCE(S) OF FUNDING: <br />Nocost.Release/reductioninsecurityasshownabove. <br />REQUESTED COUNCIL ACTION: <br />Resolutionauthorizingreleaseofthe$105,000AmazonInfrastructureEscrow. <br />For ClerkÓs Use: <br />SUPPORTED DOCUMENTS ATTACHED <br />Motion By: ____________________________________ <br /> Resolution Ordinance Contract Minutes Plan Map <br />Second By: ____________________________________ <br />Vote Record: Nay <br /> _____ <br />Other (specify) ____________ <br /> _____ <br /> _____ <br />_______________________________________________________________ <br /> _____ <br /> _____ _______________________________________________________________ <br />Administration Department Use: <br />Refer to: _________________________________ <br />Consent <br /> Tabled Until: ______________________________ <br /> Regular <br /> Other: ___________________________________ <br />88 <br /> <br />