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ALTERNATIVES: <br />1. Uphold the previous Board action in approving the plat with a condition <br />that prior to recording, the developer post security to guaranty the <br />Warranty Maintenance Agreement. <br />2. Recognize that the 1 -year warranty timeframe has passed, and that the <br />developer has penalized himself by not being able to sell during that 1 - <br />year warranty period and allow the plat to be recorded without the security <br />for a Warranty Maintenance Agreement, since the agreement has <br />expired. <br />RECOMMENDATION: <br />Alternative No. 2 <br />ON MOTION by Commissioner Eggert, SECONDED BY <br />Commissioner Adams, the Board unanimously approved staff's <br />recommendation as set forth in the memorandum, Alternative <br />No. 2. (Recognize that the 1 -year warranty time frame has <br />passed, and that the developer has penalized himself by not <br />being able to sell during that 1 -year warranty period and allow <br />the plat to be recorded without the security for a Warranty <br />Maintenance Agreement, since the agreement has expired.) <br />7.K. Cypress Lakes Planned Development (PD) - Phase I - <br />Assignment o ffflphts under Maintenance Bond <br />The Board reviewed a Memorandum of March 25, 1998: <br />TO: The Board of County Commissioners <br />FROM: W&,William G. Collins II - Deputy County Attorney <br />DATE: March 25, 1998 <br />SUBJECT: Cypress Lakes PD - Phase I - Assignment of Rights Under <br />Maintenance Bond <br />The plat of Cypress Lakes PD - Phase I was approved February 10, 1998. <br />Since that time, all required subdivision improvements have been completed. <br />County ordinances require the developer to provide a maintenance bond which <br />warranties the publicly dedicated improvements for a period of one year. <br />April 7, 1998 <br />29 <br />J <br />