5/19/1987 - Laserfiche WebLink

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MAY 19197 BOOK 68 FAGE 327 ON MOTION by Commissioner Eggert, SECONDED by Com- missioner Wheeler, the Board unanimously approved Full Satisfaction on Impact Fee Lien and Partial Release of Liens as set out in the above memo dated May 12, 1987, and authorized the signature of the Chairman. COPIES OF SAID RELEASES ARE ON FILE IN THE OFFICE OF THE CLERK. J. Shorelands West Subdivision (Request for Bond Reduction) The Board reviewed memo of Asst. County Attorney Barkett: TO: The Board of County Commissioners - DATE: May 13, 198.7 SUBJECT: Shorelands West Subdivision - Request for Bond Reduction FROM: Bruce Barkett Assistant County Attorney Shorelands West is a proposed 13 -lot subdivision of a parcel of property approximately 9.43 acres in size located on the west side of State Road A -1-A across from Smuggler's Cove Subdivision. A letter of credit in the amount of $327,773.00, representing 115% of the certified cost estimate for bonding the required improvements for the subdivision was posted by the owner, Shoreland Development, Inc., Roger Wheelwright, President. The owner has now requested that the face amount of the security be reduced to reflect that at least 740 of the original construction contemplated has been completed. He has submitted the letter of his engineer, Dean F. Luethje, P.E., in support of his request. The request wasrouted through the Planning Department and through the Public Works Department. Public Works has verified that at least 74% of the required improvements have been completed. It is recommended that the Board of County Commissioners authorize the owner/developer of the Shorelands West Subdivision to reduce the face amount of the posted bond or letter of credit by 7k% by amendment or by substitution. Bruce Barkett Assistant County Attorney Davis, Director ub l i c Works obert M. K -at ng, rector Planning and revel pment 10