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ANALYSIS: <br />The LDRs allow for certain subdivision improvements, including the construction of internal project <br />sidewalks and the provision of a final layer of asphalt, to be completed after homes are built in a new <br />subdivision. Such arrangements are reasonable since they allow home construction activity, that <br />might otherwise damage and require repair of "finishing" improvements such as internal sidewalks <br />and internal roadways, to occur within the subdivision. <br />Staff has no objection to the Board authorizing the developer one more year, with no subsequent <br />extensions, to complete the intemal sidewalks and put down the final layer of asphalt. As of the date <br />of this report, however, the developer has not submitted the documents necessary to extend the <br />completion date and substitute the letter of credit. To ensure completion of the required <br />improvements, the Board needs to authorize staff to pull the existing letter of credit by adopting the <br />attached resolution. To accommodate the developer's verbal request to extend the completion date <br />and offer substitute security, the Board, in lieu of pulling the existing letter of credit, should <br />alternatively allow an extended completion date of not more than 1 year and authorize acceptance <br />of substitute security in an amount acceptable to the County Engineer, if the developer provides the <br />necessary items for such extension and substitution on or before September 6, 2000. <br />RECOMMENDATION: <br />Staff recommends that the Board of County Commissioners: <br />1. Adopt the attached resolution authorizing staff to pull the existing letter of credit <br />unless the conditions of item #2 (below) are met. <br />2. Approve an extended improvement completion date of September 5, 2001 and accept <br />a substitute letter of credit in an amount acceptable to the County Engineer, in lieu <br />of pulling the existing letter of credit referenced above, if the developer provides the <br />items necessary for such an extension and letter of credit substitution on or before <br />September 6, 2000. <br />ATTACHMENTS: <br />1. Location Map <br />2. Existing Letter of Credit (copy) <br />3. Resolution to Pull the Existing Letter of Credit <br />September 5, 2000 <br />• <br />30 <br />BK 114 PG 764 <br />• <br />