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Boob i12 <br />The owner's agent, Masteller, Moler & Associates, Inc., is requesting final plat approval and has <br />submitted the following: <br />A final plat in conformance with the approved preliminary PD plan/plat; and <br />2. An engineer's Certified Cost Estimate for the remaining required improvements; and <br />3. A completed Contract for Construction of Remaining Required Improvements; and <br />4. A letter of credit to secure the contract. <br />None of the required subdivision improvements have been completed, although construction has <br />commenced. The applicant is proposing to "bond -out" for the required subdivision improvements <br />as provided for in the county's land development regulations. The Public Works and Utility Services <br />Departments have reviewed and approved the submitted Engineer's Certified Cost Estimate and <br />corresponding letter of credit amount. The County Attorney's Office has reviewed and approved the <br />submitted Contract for Construction. The letter of credit, which represents 115% of the estimated <br />cost to construct the required improvements, will be submitted prior to recording the plat. It should <br />be noted that all improvements within the Pointe West development will be private, with the <br />exception of certain utilities facilities that will be dedicated and guaranteed to Indian River County <br />as required by the Utility Services Department. <br />Based on the above analysis, staff recommends that the Board of County Commissioners: <br />1. Grant final plat approval for Point West North Village, and <br />2. Authorize the Chairman to execute the submitted Contract for Construction of Remaining <br />Required Improvements and accept the letter of credit that secures the contract. <br />1. Application <br />2. Location Map <br />3. Plat Layout <br />4. Contract for Construction <br />ON MOTION by Commissioner Ginn, SECONDED BY <br />Commissioner Stanbridge, the Board unanimously granted final <br />plat approval for Pointe West North Tillage and authorized the <br />Chairman to execute the Contract for Construction of <br />Remaining Required Improvements and accepted the Letter of <br />February 15, 2000 <br />28 <br />