TO: Board of County Commissioners
THROUGH: John A. Titkanich, Jr., County Administrator
FROM: Susan J. Prado, Deputy County Attorney
DATE: April 7, 2025
SUBJECT: Ditch 5 Sand Mine - (SP-MA-95-02-12 (94060171) Replacement Cash Deposit and Escrow Agreements for Compliance and Restoration Security by Babcock Coquina Mine, LLC
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BACKGROUND
Babcock Coquina Mine, LLC (“Owner”) has posted Irrevocable Letters of Credit as compliance and restoration security for Phase 1 through 4 on Ditch 5 sand mine. The Letters of Credit are due to expire, and the Owner would like to replace the security with Cash.
Attached for your approval are both the compliance and restoration Cash Deposit and Escrow Agreements as replacement security for the below phases.
PHASE 1
Compliance: $25,300.00
Restoration: $13,200.00
PHASES 2, 3 & 4
Compliance: $56,000.00
Restoration: $39,600.00
ANALYSIS
N/A
BUDGETARY IMPACT
N/A
PREVIOUS BOARD ACTIONS
N/A
POTENTIAL FUTURE BOARD ACTIONS
N/A
STRATEGIC PLAN ALIGNMENT
N/A
OTHER PLAN ALIGNMENT
N/A
STAFF RECOMMENDATION
Authorize the Chairman of the Board of County Commissioners to execute the two compliance and restoration Cash Deposit and Escrow Agreements with regard to the replacement security for Phases 1 through 4.
ATTACHMENTS
1. CASH DEPOSIT (for compliance) - Ditch 5 - Babcock Coquina Mine, LLC Phase 1
2. CASH DEPOSIT (for restoration) Ditch 5 - Babcock Coquina Mine, LLC Phase 1
3. CASH DEPOSIT (for restoration) Ditch 5 - Babcock Coquina Mine, LLC Phase 2-4
4. CASH DEPOSIT (for compliance) - Ditch 5 - Babcock Coquina Mine, LLC Phase 2-4