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REQUEST TO ALTER HAWK'S NEST STORM GROVE ROAD AGREEMENT The Board reviewed the following memo dated 8/5/86: TO: The Honorable Members of DATE: August 5, 1986 FILE: the Board of County Commissioners DIVISION HEAD CONCURRENCE: REQUEST TO ALTER HAWK'S t/2Z4 4U: NEST STORMGROVE ROAD Robert M. Kea ng, 4yICP SUBJECT: AGREEMENT Planning & Development Director THROUGH: Michael K. Miller)gr M Chief, Current Development FROM: Stan Boling �.& Staff Planne REFERENCES: STAN It is requested that the data herein presented be given formal consideration by the Planning and Zoning Commission at their regular meeting of August 13, 1986. DESCRIPTION AND CONDITION: At the October 2, 1985 regular meeting,, the Board of County Commissioners granted special exception approval for the con- struction of the 203 acre Hawk's Nest golf course located between Lateral "G" canal and Old Dixie Highway/F.E.C. Railroad, north of the North Relief canal (attachment #1). The County owns a 90' wide section of right-of-way for Stormgrove Road which runs - through the lower one third of the site. One of the conditions of approval was to grant to the chairman authorization to sign an agreement with the developer, specifying the timing and extent of construction of Stormgrove Road. The later phase of the site plan incorporates an F:E.C. crossing at Stormgrove Road as the main project entrance and utilizes Stormgrove Road for access to a golf maintenance area. The entire golf course is designed around the Stormgrove Road right-of-way. On December 18, 1985, the Chairman signed the executed developer's agreement (attachment #2). The agreement stipulated that the developers of Hawk's Nest are responsible for constructing Stormgrove Road to County standards upon notification by the County that the road is to be constructed. The agreement is to be secured by a renewable letter of credit in the amount of $81,837.45. Attorney William Caldwell, on behalf of Hawk's Nest Associates, Ltd., the owner/ developer, is now requesting that in lieu of the letter of credit (referred to in paragraph 8 of the developer's agreement) the Board accept a letter of guarantee (attachment #3). ALTERNATIVES & ANALYSIS: The Board requires posted security to guarantee performance of construction. The Public Works and Planning & Development departments have reviewed this request and are of the opinion that granting such a request would go against county policy and would not sufficiently guarantee the developer's agreement. The County Attorney's office has stated that a letter of guaranty would offer no security .to ensure that the terms of the agreement are satisfied. 43 AUG 1 BOOK 65 PACE405