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BQoK 102 fAGE235 A final plat in conformance with the approved conceptual planned development plan and the preliminary planned development plan/plat; 2. An Engineer's Certified Cost Estimate for completion of the remaining required subdivision improvements; 3. A Contract for Construction of required subdivision improvements. 4. A security agreement, acceptable to the county attorney's office, to guarantee the submitted Contract for Construction. ANALYSIS: Not all of the required subdivision improvements have been completed as of this date (i.e. landscaping buffers, roadways, stormwater management, and utility services). In addition to required on-site improvements, the developer is responsible for paving 1st Street S.W. from 58th Avenue to 43rd Avenue, pursuant to an executed developer's agreement with the county. A conceptual design for the paving project has been approved by the public works staff, however, no final paving construction plans have been delivered as of the date of this report. The developer desires to proceed with recording the plat and proposes to "bond -out" for construction of the remaining required on-site and off-site improvements (including the paving of 1st Street S.W.) pursuant to the provisions of subdivision ordinance section 913.10. A certified engineer's cost estimate for completion of the remaining improvements has been reviewed and approved by the Public Works Department, Utilities Services Department, and the Community Development Department. The developer has submitted a contract for construction of required improvements and posted suitable security, approved by the County Attorney's Office, to guarantee the contract. The contract, which is on a standard form approved by the County Attorney's Office, requires on-site and off-site improvements to be completed in one year. With those documents, the developer will have complied with the appropriate requirements to obtain final plat approval. The Board should note that, although the developer is bonding -out for his obligations set forth in the developers agreement, the timing of the actual paving of 1'a Street S.W. could dictate when a lot owner is allowed to occupy a newly built house. Because homes could be built faster than 1'a Street S.W. can be paved, there is a risk that a lot owner with a completed house would need to wait until the end of the construction period (or the completion of actual paving) before being granted a certificate of occupancy (C.O.). Platting will allow lot sales and construction of single family homes. However, under the subdivision ordinance, no C.O.s will be issued until guaranteed on-site and off-site improvements are completed and deemed acceptable. RECOMMENDATION: Based upon the analysis performed, staff recommends that the Board of County Commissioners grant final plat approval for Hammock Lakes Phase I, authorize the chairman to execute the contract for construction, and the three party letter agreement with Paul H. Freeman, Trustee, and South Trust Bank of Florida, N.A. to guarantee the contract for construction. IIPa Auug st 12, 1997