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M has been rescheduled(at the applicant's request) to October S, 1996. The applicant's final plat request, as herein presented, covers a smaller area than his original request. Staff's recommendation is the same for this amended request as for the original request, namely that final plat approval be granted. DESCRIPTION AND CONDITIONS: On December 17, 1991, the Board of County Commissioners granted special exception use and PD conceptual plan approval for the Indian River Club (formerly Indian River Country Club) development to construct a residential golf course community on 295.64 acres within the Vero Beach Highlands. At its regular meeting of July 25, 1996,the Planning and Zoning Commission granted preliminary PD approval to Phases 4 A & B, which consisted of 34 lots on 21.45 acres. The proposed plat #3 (Phase 4A) final plat covers 9.22 acres. Phase 4A includes 14 single family lots at a density of 1.52 units per acre, and a landscape tract. The owner, Indian River Club, Ltd., through its agent Masteller, Moler & Reed, Inc., is now requesting final plat approval for Plat #3 (Phase 4A) and has submitted the following: 1. A final plat in conformance with the approved preliminary PD plat; and 2. A completed Contract for Construction of Remaining Required Improvements; and 3. An Engineer's Certified Cost_ Estimate for the remaining required improvements; and 4. An appropriate security arrangement acceptable to the county attorney's office. ANALYSIS• None of the required subdivision improvements have been constructed. The applicant is proposing to "bond -out" for the required subdivision improvements for Phases 4A as provided for in the county's land development regulations. The public works department and utility services department have reviewed and approved the submitted Engineer's Certified Cost Estimate and corresponding letter of credit amount. The county attorney's office has reviewed and approved the submitted Contract for Construction, and the letter of credit which represents 115% of the estimated cost to construct the required improvements. It should be noted that all improvements within Indian River Club will be private, with the exception of certain utility facilities that will be dedicated to Indian River County as required by the utility services department. RECOMQNDATION• Staff recommends that the Board of County Commissioners: 1. Grant final plat approval for Indian River Club Plat 3 (Phase 4A); and 2. Authorize the Chairman to execute the submitted Contract for Construction of Remaining Required Improvements and accept the letter of credit that secures the contract. Deputy County Attorney Will Collins commented that a change should be made on page 45 of the Agenda back-up material to recommend executing the contract and accepting the letter of credit, expanding the language to authorize the Chairman to sign any alternate security arrangements. OCTOBER 8, 1996 BOOK FG 21 350