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ANALYSIS: Most, but not all, of the required Serenoa Phase 3 required subdivision improvements have been completed. As provided for under the LDRs applicable to this final plat application, the applicant is proposing to "bond -out" for the remaining 23.5% of required Serenoa Phase 3 improvements (utilities, drainage, landscaping, roadways). Public Works, Utility Services, and Planning have reviewed and approved the submitted Engineer's Certified Cost Estimate for the remaining Serenoa Phase 3 improvements. The County Attorney's Office has reviewed and approved the submitted Contract for Construction of Required Improvements and Cash Deposit and Escrow Agreement. The contract for construction and security arrangement, which represents 125% of the estimated cost to construct the remaining required improvements, have been executed by the County Administrator and will be effective upon final plat approval. Cash in the amount of $51,177.41 for the improvements has been deposited into escrow with the county. It should be noted that all improvements within Serenoa Phase 3 will be private, with the exception of certain utilities facilities. Those utility facilities will be dedicated to and guaranteed to Indian River County as required by. the Utility Services Department. RECOMMENDATION: Based on the above analysis, staff recommends that the Board of County Commissioners grant final plat approval for Serenoa Phase 3. ATTACHMENTS: 1. Application 2. Location Map 3. Plat Layout 4. Contract for Construction of Required Improvements 5. Cash Deposit and Escrow Agreement APPROVED AGENDA ITEM: FOR: September 15, 2015 BY: ` i 4.OAJ1t/ U Indian River Co, Appr.ved Date Admin. 41;e 4l//1i3 Legal k j' 'i► i -,-/S Budget A 9I/5j Dept. • `l/3f /c Risk Mgr. 89 F•\Community Development\CurDev\Final Plats\BCC staff reports \2015\SerenoaPhase3.rtf 2