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8.K OUAIL CREEKPD. REQUEST FROMSUCCESSOR DEVELOPER. SLM <br />INVESTMENTS. LLC (STANLEYMARKOFSKY, MARKACKERMAN, <br />EUGENE SHALIK. AND EDWARD KALIKOW. MANAGING MEMBERS) FOR <br />ANEXTENSION TO COMPLETE REQUIRED IMPROVEMENTS <br />Commissioner O'Bryan explained why he was opposed to SLM Investments, <br />LLC's request for a third extension to the Contract for Construction of Required Improvements <br />within Quail Creek Planned Development (PD). He reminded the Commissioners that on <br />September 4, 2007, SLM Investments, LLC, had declared that they were 95% complete, and had <br />received from the Board a second extension to the subject Contract. At that time, they had also <br />promised to resolve some issues which remain unresolved. <br />MOTION WAS MADE by Commissioner O'Bryan, <br />SECONDED by Commissioner Wheeler, for discussion, <br />to deny staff's recommendation to approve a 90 -day <br />extension to SLM Investments, LLC's Contract for <br />Construction of Required Improvements within Quail <br />Creek PD. <br />Matthew Markofsky, 1400 East Oakland Park Blvd., Ft. Lauderdale, FL., <br />representing SLM Investments, LLC, explained that there had been a problem with the lift <br />station during inspection. Although they are correcting the problem, they needed the three- <br />month extension to obtain the Certificate of Completion (CC). <br />Vice Chairman Davis supported making a decision to approve a sixty-day delay <br />for SLM Investments, LLC to obtain a CC, or pull the Letter of Credit. <br />6 <br />June 3, 2008 <br />