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ANALYSIS: Most, but not all, of the required Sandy Lane PD improvements have been completed. As provided for under the LDRs applicable to this final PD plan/plat application, the applicant is proposing to "bond -out" for the remaining 22.76% of the required Sandy Lane PD improvements (e.g. utilities, drainage, landscaping, roadways). Public Works, Planning, and the City of Vero Beach Utilities Department have reviewed and approved the submitted Engineer's Certified Cost Estimate for the remaining Sandy Lane PD improvements. The County Attorney's Office has reviewed and approved the submitted Contract for Construction of Required Improvements. 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. An irrevocable letter of credit in the amount of $183,372.01 for the remaining improvements has been provided to the County. It should be noted that all improvements within Sandy Lane PD will .be private, with the exception of certain utilities facilities. Those utility facilities will be dedicated to and maintained by the City of Vero Beach Utilities Department as the project site is located within the City of Vero Beach Utilities service area for water and sewer services. RECOMMENDATION: Based on the above analysis, staff recommends that the Board of County Commissioners grant final plat approval for Sandy Lane PD. ATTACHMENTS: 1. Application 2. Location Map 3. Plat Layout 4. Contract for Construction of Required Improvements and Irrevocable Letter of Credit APPROVED AGENDA ITEM: FOR: Max -24.201 BY: Indian River County A r Date Administrator Legal . Budget `fit S S Risk Management Department /1''3 5-/1-7/4 66 P\Community Development\CurDev\Final Plats\BCC staff reports\2016FPrpts\SandyLaneFinalPD-15-07-02.docx 2