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CONSENT: February 20, 2018 91. Office of INDIAN RIVER COUNTY ATTORNEY Dylan Reingold, County Attorney William K. DeBraal, Deputy County Attorney Kate Pingolt Cotner, Assistant County Attorney MEMORANDUM TO: The Board of County Commissioners FROM: William K. DeBraal - Deputy County Attorney Kp. DATE: February 12, 2018 SUBJECT: Lily's Cay At Vero Beach Request for 1 -Year Extension to Final Lift of Asphalt Contract Developer: Diamond Court West FL, LLC In 2016, Diamond Court West FL, LLC, the developer of Lily's Cay At Vero Beach, entered into a Contract for Construction for Final Lift of Asphalt, Contract No. SD -15 -05 -07 -FLA (2006030269-74273), posted the required security in the form of cash in the amount of $58,126.81, and entered into a Cash Deposit and Escrow Agreement for Final Lift of Asphalt to guarantee completion of the final lift of asphalt. The developer, through its engineer, indicated that only 40% of the homes have been constructed to date, and has requested a 1 - year extension to this contract so that the final lift may be laid at approximately 90% - 95% build -out rather than doing it now and then having to re -do it again at build -out. 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 period following the newly extended time for performance. Staff has no objection to a 1 -year extension. Additionally, the developer has paid the required $660 extension request fee; and has provided its engineer's updated certified cost estimate, which County engineering has approved. It is noted that the approved amount has not changed from the approved initial cost estimate. FUNDING: There is no cost to be borne by Indian River County with respect to this item. 53