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• 0 <br />ANALYSIS: <br />The 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. As provided for in the county's land development regulations, the applicant is <br />proposing to "bond -out" for the remaining work necessary to complete the required subdivision <br />improvements. The Public Works and Utility Services Departments have reviewed and approved the <br />submitted Engineer's Certified Cost Estimate and corresponding letter of credit amount. The County <br />Attorney's Office has reviewed and approved the submitted Contract for Construction. Prior to <br />recording the plat, the developer will submit the letter of credit, which represents 115% of the <br />estimated cost to complete the required improvements. It should be noted that all improvements <br />within the Pointe West development will be private, with the exception of certain utilities facilities <br />that will be dedicated and guaranteed to Indian River County as required by the Utility Services <br />Department. All final plat requirements have been satisfied. <br />RECOMMENDATION: <br />Based on the above analysis, staff recommends that the Board of County Commissioners: <br />1. Grant final plat approval for Point West Central 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 />MAY 099 2000 <br />ON MOTION by Commissioner Ginn, SECONDED <br />by Commissioner Stanbridge, the Board <br />unanimously granted final plat approval for Pointe <br />West Central Village, authorized the Chairman to <br />execute the Contract for Construction of Remaining <br />Required Improvements, and accepted the Letter of <br />Credit securing the contract, as recommended by <br />staff. <br />CONTRACT IS ON FILE IN THE OFFICE <br />OF THE CLERK TO THE BOARD <br />A," <br />k <br />—17— BOOK Iii F'AGE c�U <br />