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CONSENT: March 10, 2015 <br />Office of <br />INDIAN RIVER COUNTY <br />ATTORNEY <br />Dylan Reingold, County Attorney <br />William K. DeBraal, Deputy County Attorney <br />Kate Pingolt Cotner, Assistant County Attorney <br />MEMORANDUM <br />TO: The Board of County Commissioners <br />FROM: �� � William K. DeBraal - Deputy County Attorney <br />DATE: March 2, 2015 <br />SUBJECT: Provence Bay <br />Request for 2 -Year Extension to Final Lift of Asphalt Contract <br />Developer: Centex Homes <br />In 2013 Centex Homes, the developer of Provence Bay, in order to receive a Certificate of <br />Completion for the Provence Bay project entered into a Contract for Construction for Final <br />Lift of Asphalt (Contract No. SD -04 -10 -46 -FLA) and posted the required security in the form <br />of a Wells Fargo Bank Irrevocable Standby Letter of Credit in the amount of $60,456.25 to <br />guarantee completion of the final lift of asphalt. The developer is requesting a 2 -year <br />extension to this contract in order to avoid laying the final lift until after a majority of the <br />construction is completed so that the finished roadways will be more aesthetically pleasing to <br />potential buyers. <br />Section 913.10(1)(E) of the County Code states that for good cause shown the Board may in <br />its discretion grant one or more extensions of time for performance of any contract for <br />construction of required improvements provided the security supporting such contract remains <br />valid for the required 90 -day period following the newly extended time for performance. <br />Staff has no objection to a 2 -year extension. Additionally, the developer submitted its <br />engineer's updated certified cost estimate, and staff has approved the updated amount. The <br />updated approved 125% amount is $51,231.25 which is a reduction from the cost estimate <br />from two years ago. <br />Approved for March 10, 2105 BCC Meeting <br />CONSENT <br />COUNTY ATTORNEY <br />Indian River Co. <br />Appr1ved <br />Date <br />Admin. <br />IPS:315 <br />Ji5 <br />Co. Atty. <br />. CI' <br />Budget <br />3 <br />3- <br />Department /AS 3 iir <br />v3wa <br />-/ST <br />Risk Management <br />--- <br />70 <br />