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SEP 2 41980 <br />aoox 44 pAcE 632 <br />ALLOWS FOR A 20% CONTINGENCY INSTEAD OF THE 10% THEY OFFERED, AND <br />MR. NELSON STATED THAT HE ADDED THE EXTRA 10% FOR ESCALATION PURPOSES► <br />HE POINTED OUT THAT THEY HAVE POSTED BOND FOR THE OTHER PHASES OF <br />THIS PROJECT, AND HE WAS NOT SURE WHAT THE IMPACT WOULD BE IF THEY WERE <br />NOT ALLOWED TO DO THIS. <br />MR. SILLS, VICE PRESIDENT OF VILLAGE GREEN, HAD NO OBJECTION <br />TO THE 20% CONTINGENCY. HE INFORMED THE BOARD THAT IF THEY WERE NOT <br />ALLOWED TO POST BOND, IT WOULD SLOW THEIR CONSTRUCTION TIMETABLE BY <br />45 DAYS AND NOT LET PEOPLE MOVE IN WHO ARE SCHEDULED TO MOVE IN. <br />CHAIRMAN SIEBERT UNDERSTOOD THAT, BUT WONDERED IF IT IS <br />REALLY THE BOARDS PROBLEM. HE NOTED WE ARE GOING TO BE FACED WITH <br />MORE AND MORE OF THESE ALL THE TIME. <br />MR. SILLS AGREED THAT IT IS NOT REALLY THE BOARDS PROBLEM, <br />BUT POINTED OUT THE COMMUNITY IS SUBSTANTIALLY COMPLETE IN SOME <br />AREAS AND THEY WOULD LIKE TO START CONSTRUCTION, IF POSSIBLE. HE HAD <br />FELT THERE WAS SOME PRECEDENCE FOR THIS. <br />COMMISSIONER LYONS ASKED WHAT OUR PROBLEM IS IN ADMINISTERING <br />THIS, AND MR► NELSON FELT THAT ACTUALLY WE ARE UNDERWRITING THE <br />PROJECT. WE ARE SAYING WE WILL KEEP THE BOND TO ASSURE THE WORK IS <br />COMPLETED; IF SOMETHING HAPPENS AND THE WORK IS NOT COMPLETED, IT THEN <br />WOULD BE THE RESPONSIBILITY OF THE COUNTY TO GO BACK IN AND DO THE <br />JOB. IN ADDITION, THE FINANCE DEPARTMENT WOULD HAVE TO KEEP TRACK OF <br />THE MONEY AND REFUND IT UPON DEMAND AFTER COMPLETION. MR. NELSON <br />WENT ON TO EXPLAIN THAT THE DEVELOPER CANNOT MOVE THE PEOPLE INTO <br />THESE HOMES UNTIL THEY CAN GET A CERTIFICATE OF OCCUPANCY, WHICH ONLY <br />CAN BE OBTAINED WHEN THEY ARE 95% COMPLETE, I.E., ALL THE ROADWAYS <br />ARE IN, THE WATER AND SEWER, THE ELECTRICITY, AND EVERYTHING IS <br />OPERATING. THE REMAINING 5% WOULD COVER DRESSING UP, GRASSING, ETC., <br />BUT THIS WOULD NOT STOP OCCUPANCY. <br />COMMISSIONER LYONS DID NOT UNDERSTAND THE ADVANTAGE TO <br />THE DEVELOPER WHEN ALL THIS HAS TO BE DONE ANYWAY, AND ENGINEER YOUNG <br />EXPLAINED THAT WHEN THE BOND IS PUT UP, THEY CAN GO AHEAD AND PUT <br />52 <br />