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None of the required subdivision improvements have been constructed. The applicant is proposing to "bond -out" for the required subdivision improvements as provided for in the county's land development regulations. The Public Works and Utility Services Departments 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. The letter of credit which represents 115% of the estimated cost to construct the required improvements will be submitted prior to recording the plat. It should be noted that all improvements within the Indian River Club will be private, with the exception of certain utilities facilities that will be dedicated and guaranteed to Indian River County as required by the Utility Services Department. RECOMMENDATION: Based on the above analysis, staff recommends that the Board of County Commissioners: 1. Grant final plat approval for Indian River Club Plat 5; 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. ON MOTION by Commissioner Adams, SECONDED by Commissioner Ginn, the Board unanimously granted final plat approval for Indian River Club Plat 5; authorized the Chairman to execute the Contract for Construction of Required Improvements with The Indian River Club, Ltd.; and accepted the letter of credit securing the contract, as recommended by staff. CONTRACT IS ON FILE IN THE OFFICE OF 7.L FLORIDA DEPARTMENT OF CORRECTIONS- ANNUAL CONTRACT The Board reviewed a Memorandum of July 28, 1997: CONSENT AGENDA Date: July 28, 1997 To: Honorable Board of County Commissioners Thru: James E. Chandler County Administrator From: H.T. "Sonny" Dean, Direcwav Department of General Services Subject: Florida Department of Corrections - Annual Contract BACKGROUND: As in the past years, Indian River County has contracted with Indian River Correctional Institution an annual contract to provide a certain labor force on a daily basis. The current contract was to expire June 30, 1997. A copy is attached for your perusal. RECOMMENDATION: The attached proposed contract is basically the same each year. Staff recommends approval to renew the contract for another year and requests authorization for the Chairman to execute the agreement. AUGUST 5. 1997 21 890K O PAGE 1 8`19