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3. A Contract for Construction of remaining required improvements; and 4. A letter of credit in the amount of $469,320.45 to guarantee completion of the remaining required improvements. The Board is now to consider granting final plat approval for Orchid Cove. ANALYSIS: Some, but not all, of the required project improvements have been completed. As provided for under the LDRs applicable to this final plat application, the applicant is proposing to "bond -out" the remaining 14.86% of required project improvements (drainage, landscaping, roadways, and utilities). Public Works, Utility Services, and Planning have reviewed and approved the submitted Engineer's Certified Cost Estimate for the remaining project improvements. The County Attorney's Office has reviewed and approved the submitted Letter of Credit and Contract for Construction of Required Improvements. The contract for construction and security arrangement, which represent 125% of the estimated cost to construct the remaining required improvements, has been executed by the County Administrator and is attached. All improvements within Orchid Cove will be private, with the exception of certain utilities facilities. Those utilities facilities will be dedicated and guaranteed to Indian River County as required by the Utility Services Department through the final plat process and certificate of completion. In addition, a warranty and maintenance agreement will be required for the roads and stormwater improvements, prior to issuance of a Certificate of Completion. RECOMMENDATION: Based on the above analysis, staff recommends that the Board of County Commissioners grant final plat approval for the Orchid Cove subdivision. ATTACHMENTS: 1. Application 2. Location Map 3. Final Plat Layout 4. Contract for Construction of Required Improvements and Letter of Credit 21 C:\Users\legistar\AppData\Local\Temp\BCL Technologies\easyPDF 8\@BCL@100EDD37\@BCL@100EDD37.docx