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BOO1.14,r:ut <br />ANALYSIS: <br />The majority of the required subdivision improvements have been constructed, with the exception <br />of the installation of individual lot corner survey monuments. Lot corner monumentation was not <br />required at the time of the first Sea Oaks River Cottages plat but is now required by the LDRs and <br />applicable to the subject final plat application. At this time, the applicant is proposing to "bond -out" <br />this required monumentation improvement for the development, as provided for in the county's land <br />development regulations. Public Works staff has reviewed and approved the submitted engineer's <br />cost estimate and corresponding security amount which represent 115% of the estimated cost to <br />construct (install) the required improvements. In addition, the County Attorney's Office has <br />reviewed and approved the submitted contract for construction and the cash escrow agreement. It <br />should be noted that all improvements within Sea Oaks River Cottages will be private, except for <br />the utility facilities. The utility facilities will be dedicated to Indian River county as required by the <br />Utility Services Department. <br />RECOMMENDATION: <br />Based on the above analysis, staff recommends that the Board of County Commissioners: <br />1. Grant final plat approval for the Sea Oaks River Cottages, and <br />2. Authorize the chairman to sign the contract for construction (installation) of the <br />remaining required monumentation improvements, and <br />3. Authorize the chairman to sign the cash escrow agreement that guarantees <br />performance of the construction contract. <br />ATTACHMENTS: <br />1. Application <br />2. Location Map <br />3. Plat Graphic <br />4. Contract for Construction (copy) <br />5. Cash Escrow Agreement (copy) <br />ON MOTION by Commissioner Stanbridge, SECONDED BY <br />Commissioner Ginn, the Board unanimously granted final plat <br />approval for the Sea Oaks River Cottages; authorized the <br />Chairman to sign the contract for construction (installation) of <br />the remaining required monumentation improvements; and <br />authorized the Chairman to sign the Cash Escrow Agreement <br />that guarantees performance of the construction contract, as <br />recommended in the Memorandum. <br />February 1, 2000 <br />32 <br />• <br />