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Chairman Davis requested this Item be added as an Emergency Item because of an e-mail <br />he received from Chuck Mechling, regarding expiring bond issues at Pointe West. Mr. Mechling <br />has since received the check and was in agreement with staff's recommendation. <br />ON MOTION by Vice Chairman Flescher, SECONDED <br />by Chairman Davis, the Board by a 4-0 vote <br />(Commissioner Wheeler absent): (1) approved <br />modification to the contract for construction of required <br />sidewalk and buffer improvements, to extend the sidewalk <br />completion date to February 26, 2011, and to reduce the <br />required security to $34,247.24; and (2) authorized staff to <br />only call the Wachovia Bank Irrevocable Letter of Credit <br />on May 18th should acceptable alternate security not be <br />received by 12:00 noon on Monday, May 18, 2009. <br />Should the Wachovia Bank Irrevocable Letter of Credit <br />need to be called, once the acceptable alternate security <br />has been received, staff is authorized to return the <br />Wachovia Bank funds, withholding the routine <br />administrative fees including postage, all as recommended <br />in the memorandum of May 11, 2009. <br />COPY OF MODIFICATION ON FILE IN THE OFFICE OF THE CLERK TO THE BOARD <br />30 <br />May 12, 2009 <br />