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The Clerk of the Board is responsible for keeping accurate minutes and maintaining Board records for each Board of County Commissioner (BCC) and Value Adjustment Board (VAB) meeting. In addition, every 4 years, the Clerk of the Board office provides staff support to the Charter Review Commission (CRC) appointed by the BCC. Please contact our office if you need an accessible version of documents on this page, and one will be provided.

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File #: 26-0276    Version: 1 Name:
Type: Recommendation Status: Consent Agenda
File created: 2/17/2026 In control: Utilities Department
On agenda: 3/10/2026 Final action:
Title: Approval of Irrevocable Standby Letter of Credit No. 6000758364, issued by United Community Bank on behalf of Park Square Enterprises, LLC in favor of Orange County in the amount of $2,257,853.41 for the required security to guarantee compliance with the terms of Letter of Credit Agreement for Paradiso Grande and authorization for the Utilities Director or Utilities Deputy Director to release the Letter Of Credit to the issuing institution upon completion of the term of the Agreement or upon the Board's acceptance of a replacement letter of credit. District 1. (Engineering Division)
Attachments: 1. Grande Pines Orangewoo N-2 PD_Final Letter of Credit.pdf
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Interoffice Memorandum

 

DATE: February 17, 2026

 

TO: Mayor Jerry L. Demings and County Commissioners

 

THROUGH: N/A

 

FROM: Ed Torres, M.S., P.E., LEED AP, Director, Utilities

 

CONTACT: Lindy A. Wolfe, P.E., LEED AP, Manager, Engineering Division

 

PHONE: 407-254-9918

 

DIVISION: Engineering Division

 

ACTION REQUESTED:

title

Approval of Irrevocable Standby Letter of Credit No. 6000758364, issued by United Community Bank on behalf of Park Square Enterprises, LLC in favor of Orange County in the amount of $2,257,853.41 for the required security to guarantee compliance with the terms of Letter of Credit Agreement for Paradiso Grande and authorization for the Utilities Director or Utilities Deputy Director to release the Letter Of Credit to the issuing institution upon completion of the term of the Agreement or upon the Board’s acceptance of a replacement letter of credit. District 1. (Engineering Division)

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PROJECT: N/A

 

PURPOSE: Irrevocable Standby Letter of Credit No. 6000758364 (LOC), issued by United Community Bank on behalf of Park Square Enterprises, LLC in favor of Orange County in the amount of $2,257,853.41, serves as the required security to guarantee compliance with the terms of Letter of Credit Agreement for Paradiso Grande (Agreement). The Utilities Department is also asking for authorization for the Utilities Director or Utilities Deputy Director to release the LOC to the issuing institution upon completion of the term of the Agreement or upon the Board’s acceptance of a replacement letter of credit. 

United Community Bank is a qualified public depository within the state of Florida. The LOC has an issue date of March 10, 2026 and an expiration date of March 10, 2027. 

The County Attorney’s Office and the Orange County Comptroller’s Office reviewed the document and find it acceptable as to form. Utilities Department staff recommends approval.

 

BUDGET: N/A