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"12bN <br />INDIAN RIVER COUNTY, FLORIDA <br />MEMORANDUM <br />TO: Jason E. Brown; County Administrator <br />THROUGH: Roland M. DeBlois, AICP; Interim Community Development Director <br />FROM: John W. McCoy, AICP; Chief, Current Development <br />DATE: October 21, 2019 <br />SUBJECT: DiVosta Homes, LP's Request for Final Plat Approval for The Lakes at <br />Waterway Village POD U [PD -16-12-07 / 2004010124-83766] <br />It is requested that the data herein presented be given formal consideration by the Board of <br />County Commissioners at its regular meeting of November 5, 2019. <br />DESCRIPTION & CONDITIONS: <br />The Lakes at Waterway Village POD U is a phase within the Waterway Village Planned <br />Development (PD) project and consists of 78 lots on 14.67 acres. It is immediately west of the <br />newly completed north portion of 43rd Ave. The property is zoned PD (Planned Development), <br />has an L-2 (Low Density 2 up to 6 units per acre) land use designation, and will have a density of <br />5.32 units per acre. <br />On January 26, 2017, the Planning & Zoning Commission granted preliminary PD plan/plat <br />approval for The Lakes at Waterway Village POD U. The applicant is now seeking final plat <br />approval for POD U, having obtained a land development permit and commenced construction <br />of the project. At this time, the applicant has built 75.15% of the required improvements that <br />serve POD U, is proposing to "bond -out" for the remaining 24.85% of the required <br />improvements, and has submitted the following: <br />1. A final plat in conformance with the approved preliminary plat; <br />2. An Engineer's Certified Cost Estimate for the remaining required improvements; <br />3. A Contract for Construction of remaining required improvements; and <br />4. A letter of credit in the amount of $423,603.61. <br />The Board is now to consider granting final plat approval for The Lakes at Waterway Village <br />POD U. <br />55 <br />