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Dylan Reingold, County Attorney William K. DeBraal, Deputy County Attorney Kate Pingolt Cotner, Assistant County Attorney CONSENT: March 10, 2015 Of ce of INDIAN RIVER COUNTY MEMORANDUM TO: okilliam TThe Board of County Commissioners FROM: K. DeBraal - Deputy County Attorney DATE: March 2, 2015 ATTORNEY SUBJECT: Provence Bay Request for 2 -Year Extension to Final Lift of Asphalt Contract Developer: Centex Homes 17s • In 2013 Centex Homes, the developer of Provence Bay, in order to receive a Certificate of Completion for the Provence Bay project entered into a Contract for Construction for Final Lift of Asphalt (Contract No. SD -04 -10 -46 -FLA) and posted the required security in the form of a Wells Fargo Bank Irrevocable Standby Letter of Credit in the amount of $60,456.25 to guarantee completion of the final lift of asphalt. The developer is requesting a 2 -year extension to this contract in order to avoid laying the final lift until after a majority of the construction is completed so that the finished roadways will be more aesthetically pleasing to potential buyers. Section 913.10(1)(E) of the County Code states that for good cause shown the Board may in its discretion grant one or more extensions of time for performance of any contract for construction of required improvements provided the security supporting such contract remains valid for the required 90 -day period following the newly extended time for performance. Staff has no objection to a 2 -year extension. Additionally, the developer submitted its engineer's updated certified cost estimate, and staff has approved the updated amount. The updated approved 125% amount is $51,231.25 which is a reduction from the cost estimate from two years ago. Approved for March 10, 2105 BCC Meeting CONSENT COUNTY ATTORNEY Indian River Co. Appr ved Date Admin. 3 5 Co. Atty. Budget Department IX '-,V -j Risk Management - --- 70