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TO : James E . Chandler County Administrator DIV HEAD CONCURRENCE : Robert M . Keating , AICP L Community Development Dir ctor A • 6 • THROUGH : Stan Boling , AICP Planning Director FROM : John W. McCoy � I k Senior Planner, Current Development DATE : January 12 , 2001 SUBJECT : Request to Pull Letter of Credit for Pelican Pointe Phase II PD-98-05-08 / 97070035 It is requested that the data herein presented be given formal consideration by the Board of County Commissioners at its regular meeting of January 23 , 2001 . BACKGROUND : Pelican Pointe Phase II is an approved 15 lot single family planned development ( PD ) . Generally , the subject site is located on the west side of the Indian River, just south of Sebastian . More specifically , the site is located on the east side of the existing Pelican Pointe development, just south of the marina. Final plat approval for the project was granted April 4 , 2000. In order to obtain final plat approval , the applicant submitted a letter of credit to guarantee the construction of required improvements ( e .g . drainage , access , utility improvements ) . As of the date - of this report, the applicant has not obtained a certificate of completion , a document which confirms that all required improvements have been completed and inspected . Since the letter of credit is due to expire on February 1 , 2001 , the Board needs to take action to ensure that the letter of credit can be pulled prior to February V if the certificate of completion is not issued . ANALYSIS : As structured , the LDRs allow project applicants to enter into a contract for construction and bond - out required subdivision improvements in order to obtain final plat approval . Bonds or other security instruments ( e . g . letter of credit ) are released by the county once a certificate of completion has been issued by the county . In this case , the applicant agreed to complete the required subdivision improvements by November 11 , 2000 according to the contract for construction , but has not performed in accordance with that approved contract . The attached resolution , prepared by the County Attorneys office , authorizes staff to pull the letter of credit. If the applicant obtains a certificate of completion prior to January 26 , 2001 , then staff will not need to actually pull the letter of credit . January 23 , 2001 24 8 = ICS u101O