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TO: James E. Chandler <br />County Administrator <br />D <br />IVI N HEAD CONCURRENCE: <br />Aert M. Kea in, <br />Community Develo me• JJ Director <br />THROUGH: Stan Boling,�ICP <br />Planning Director <br />t� <br />FROM: John W. McCoy <br />Staff Planner, Current Development <br />DATE: ..April 30, 1991 <br />SUBJECT: REQUEST TO AUTHORIZE STAFF TO DRAW UPON <br />CREDIT FOR COPELANDS LANDING INC. PHASE I <br />A LETTER OF <br />SUBDIVISION <br />It is. requested that the data herein presented be given formal <br />consideration by the Board of County Commissioners at its regular <br />meeting of May 21, 1991. <br />DESCRIPTION AND CONDITIONS:, <br />On December 19, 1989, the Board of County Commissioners approved <br />the final plat for the Copelands Landing Phase I Subdivision, based <br />upon the developer "bonding -out" for required- improvements. <br />Pursuant to county requirements, the developer submitted a contract <br />for required improvements (expiration date: July 5, 1990) and a <br />letter of credit (expiration date October 5, 1990) to guarantee the <br />construction of the required improvements. On July 5, 1990, the <br />initial construction deadline passed, and the developer was in <br />breach of his contract. A second (renewed) contract for required <br />improvements was then executed by the developer (new expiration <br />date February 27, 1991), and a reduced ($72,000) letter of credit <br />expiring June 3, 1991 was posted to guarantee construction of the <br />remaining required improvements. Pursuant to county requirements <br />and policy, the Board of County Commissioners approved this new <br />contract and accepted the new letter of credit at its December 4, <br />1990 meeting. <br />The performance date in the renewed contract was February 27, 1991) <br />and the developer is again in breach of his contract. Not all of <br />the required improvements.have been constructedland a certificate <br />of completion has not been.issued by the County certifying that <br />improvements are complete. The existing, reduced letter of credit <br />is adequate to complete the remaining required improvements. <br />Although the subdivision is "private", certain utilities <br />improvements are part of the "public" system. As publicly <br />dedicated improvements, a one .year warranty period will be in <br />effect for the utilities improvements from the date that the <br />utilities department accepts the improvements. Funds from the <br />existing letter of credit will need to be retained until the one <br />year warranty period has passed, in accordance with County <br />Ordinances. <br />52 8 �, <br />MAY 211991 <br />