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DEC ® 8 1992 BOOK 88 F.+c X12 <br />*Riverside (Phase III) Contract/Security <br />Relative to the Riverside PRD area, the applicant has commenced <br />construction and is proposing to "bond -out" for the remaining <br />improvements as required by the County's Land Development <br />Regulations. The County Attorney's Office has reviewed and <br />approved all of the submitted Contracts for Construction, and all <br />of the letters of credit. The Public Works and Utilities <br />departments have reviewed and approved the submitted Engineer's <br />Certified Cost Estimate and corresponding letter of credit amount. <br />It should be noted that all improvements within Copeland's Landing <br />Riverside will be private, with the exception of certain utilities <br />facilities that will be dedicated to Indian River County, as <br />approved by the Utilities Department. Finally, it should be noted <br />that pursuant to county subdivision regulations no certificate of <br />occupancy shall be issued for any dwelling unit in Phase III until <br />all required subdivision improvements, including the required <br />wetland mitigation work, are completed and inspected and deemed <br />acceptable by all reviewing jurisdictions. <br />The performance dates for the contracts for construction and the <br />expiration dates for the letters of credit will run concurrently <br />for all improvements [Phase II, wetland mitigation, Phase III <br />(Riverside) improvements]. <br />RECOMMENDATION: <br />Staff recommends that the Board of County Commissioners: <br />1• Grant final plat approval for Copeland's Landing Phase III <br />(Riverside);.and <br />2. Authorize the Chairman to execute the Contract for <br />Construction of Remaining Required Improvements for Phase III <br />(Riverside) and accept the letter of credit that secures the <br />contract; and <br />3. Authorize the Chairman to execute the Contract for <br />Construction of required Wetlands Mitigation work and accept <br />the letter of credit that secures the contract; and <br />4. Authorize the Chairman to execute the revised contract for <br />construction of remaining required improvements for Phase II <br />and accept the letter of credit that secures the contract. <br />ON MOTION by Commissioner Bird, SECONDED by <br />Commissioner Macht, the Board unanimously granted <br />final plat approval for Copeland's Landing Phase III <br />(Riverside) and accepted the construction contracts <br />and letters of credit as set forth in the above <br />staff recommendation. <br />COPIES OF CONTRACTS ARE ON FILE <br />IN THE OFFICE OF THE CLERK TO THE BOARD <br />4 <br />