Laserfiche WebLink
Construction, of Melbourne, Fl. has never performed utility <br />water construction and could not provide references. <br />12. COUNTY ATTORNEY MATTERS <br />12.A. REQUEST TO VOID LETTER OF CREDIT SUPPORTING DEVELOPER'S <br />AGREEMENT BETWEEN INDIAN RIVER COUNTY AND OSLO 27, LLC <br />FOR 27T11AVENUEBETWEEN 13TH STREET SW AND 17TH STREET SW <br />County Attorney Will Collins stated that about one year ago, the County had entered <br />into a proportionate share agreement with Oslo 27, LLC for the four-laning of 27th Avenue, <br />between 13th St. SW and 17th St. SW. Since the project was not on the County's Capital <br />Improvement Plan, Oslo 27, LLC was required to fund the improvements, and secured their <br />obligation with a $5 million Letter of Credit. Reviewing his memorandum of October 10, 2007, <br />Attorney Collins detailed the circumstances, including a change to the Concurrency Ordinance in <br />January 2007, which affected the developer's original plan and resulted in their request for <br />termination and release of the Agreement and the Letter of Credit, respectively. Attorney Collins <br />noted that Oslo 27, LLC had started and would finish the design involved in the right -of -way <br />acquisition for the four -lane section. <br />Attorney Collins informed the Board that under the Proportionate Share Statutes, <br />the County had been required to add the project to its Capital Improvement Element (CIE) of the <br />Comprehensive Plan. As the project was to have been 100% developer funded (with no County <br />funding), staff wanted to delete the project and return with proposed amendments to the CIE of the <br />Comprehensive Plan. <br />Detailed discussion ensued between Commissioner O'Bryan and Director Keating <br />regarding the proposed development project, concurrency, and roadway improvements to 27th <br />October 16, 2007 18 <br />