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<br />Avenue. If that is not agreeable, staff is authorized to <br />continue with Alternative I. <br /> <br />12. COUNTY ATTORNEY – RESOLUTION NO. 2005-128 - THE <br />PRESERVE OF VERO PHASE TWO SIDEWALKS - REQUEST <br />FOR AUTHORIZATION FOR STAFF TO CALL LETTER OF <br />CREDIT AND/OR EXTEND EXPIRATION DATE TO <br />COMPLETE REMAINING REQUIRED IMPROVEMENTS – <br />GEN DEVELOPMENT, INC. <br />Assistant County Attorney Bill DeBraal explained the letter of credit was issued on <br />sidewalk improvements. The bank informed him they will not renew the letter of credit and the <br />County needs some security if the contract is not completed. <br /> <br />ON MOTION by Commissioner Bowden, SECONDED <br />by Commissioner Davis, the Board unanimously <br />adopted Resolution 2005-128, (1) declaring default by <br />Gen Development, Inc. in its obligation to complete <br />required offsite sidewalk improvements to the Preserve <br />of Vero Phase Two, and (2) authorizing staff to make <br />sight draft against First Business Bank Irrevocable <br />Letter of Credit No. 05-2003 in favor or Indian River <br />County in the amount of $23,287.50. <br /> <br />13.D.1. COMMISSIONER WESLEY S. DAVIS – IMPACT FEES AND <br />CONCURRENCY RESERVATIONS – LETTER FROM <br />THOMAS G. PELHAM, FOWLER WHITE BOGGS BANKER, <br />21 <br />AUGUST 23, 2005 <br /> <br />