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ON MOTION by Commissioner Davis, SECONDED by <br />Vice Chairman Neuberger, the Board adopted (4-1, <br />Commissioner Wheeler opposed) Resolution No. 2005-134 <br />amending the fiscal year 2004-2005 budget. <br /> <br />7.O. JE–FPAS <br />OYAL NTERPRISES INAL LAT PPROVAL FOR UBDIVISION TO <br />KPLE <br />BE NOWN AS ARK ANE STATES <br /> <br />Commissioner Bowden expressed concern with Items 7.O., 7.P., 7.Q. 7.R., 7.S., and <br />7.T. that total approximately 1500 units. She believed they have been submitted now to get in <br />before the developers have to be subject to the new impact fees. She asked the County Attorney to <br />explain for the record what the applicants must do to retain the exemption from the new impact <br />fees. <br />County Attorney Collins explained that the Board changed our subdivision <br />improvement bonding requirements earlier in the year; at that time there was a concern that more <br />of the improvements should be in the ground before developers start selling lots. In the past, the <br />County has allowed subdivisions to be approved, platted, and lots sold if the developer put up a <br />bond to cover 115% of the cost of the required improvements (roads, drainage, paving, storm <br />sewer, water) by either posting a letter of credit, a bond or cash in an amount representing 115% of <br />the cost. They then could begin selling lots and had one year from the date of final plat approval to <br />complete those required improvements. If the work was not completed in that period of time, the <br />County could draw on the security and go out to bid to make sure the improvements were <br />completed. In the spring, the Board changed our subdivision improvement requirements to <br />provide that until 75% of the “horizontal” improvements are in place, they could not get their final <br />plat approved nor could they begin selling lots. The remaining 25% needing completion could be <br />secured at a rate of 125% of the cost. Most of the developments on this agenda fell into that <br />category. He believed they had to have a land development permit application by March 18; a <br />September 13, 2005 10 <br /> <br />