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<br />Commissioner Bowden understood that Director Davis was changing the requested dollar figure <br />from $576,000 to $300,000. <br />Director Davis explained he was able to reduce the figure because Falcon Trace has a section of <br />the roadway that overlaps where this developer would have to construct a turn lane. <br />County Administrator Baird thought the amount should remain the same. <br />Commissioner Davis restated his motion, to accept staff’s recommendation (as in the <br />memorandum) for $526,492.25. <br />Mr. Genoni <br /> declared they could not put up the money now. He continued to claim there were <br />two separate issues. He committed to not sell any lots and said he would put that in writing if the County <br />wanted that. <br />Director Davis stated the only way to get the road built was to have the money in the bank to <br />combine with Falcon Trace’s money. He did not want to have to take the road out of service twice as it is <br />necessary for the people who live in Vero Highlands. <br />Mr. Genoni <br /> asked that the LOC be extended and reiterated they could not come out-of-pocket <br />now for $300,000. <br />Based on Director Davis’ new recommendation, Commissioner Davis was willing to change his <br />motion to reduce the amount (from $526,492.25) in the memorandum’s recommendation to $300,000. <br />County Administrator Baird was concerned and recommended that if Mr. Genoni could not <br />follow through with this, the Board needed to exercise the existing letter of credit. He needed that motion <br />because someone would have to exercise the existing letter of credit if this all fails today. He thought it <br />had to be part of that motion because it appeared there was a dispute and he felt very strongly about the <br />necessity of doing the improvements. He asked the Board to make a motion to approve the letter of credit <br />and if the developer does not do the improvements the County would go ahead and exercise the existing <br />LOC ($2,935,560.24). <br />Discussion continued. <br /> <br />Commissioner Lowther WITHDREW HIS SECOND. Motion <br />DIED. <br />September 5, 2006 <br />24 <br /> <br />