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DESCRIPTION & CONDITIONS: Lindsey Lanes Subdivision. Phase II -A. is a thirty (30) lot subdivision of a 9.19 acre parcel of land located south of 49th Street and west of 43rd Avenue. The subject property being subdivided is zoned RS -6 (residential, single family up to 6 units/acre) and is being developed at a density of 3.26 units per acre. On June 25, 1998. the Planning and Zoning Commission granted preliminary plat approval for Phase II -A of Lindsey Lanes Subdivision. The developer, GHO Homes Inc., subsequently obtained a county land development permit and commenced construction. The applicant is proposing to "bond - out" for the remaining required improvements as allowed by the land development regulations (LDRs). The applicant is now requesting final plat approval and has submitted the following: 1. A final plat in substantial conformance with the approved preliminary plat. and 2. An Engineers Certified Cost Estimate for the remaining required improvements, and 3. A completed Contract for Construction of remaining required improvements, and 4. A letter of credit to secure the construction contract. ANALYSIS: Approximately 75% of the required subdivision improvements have been completed. At this time, the applicant is proposing to bond -out for the remaining required subdivision improvements as provided for in the county's LDRs. Public Works and Utility Services have reviewed and approved the submitted Engineer's Certified Cost Estimate and corresponding letter of credit amount. The County Attomey's Office is in the process of reviewing the revised final plat as well as the submitted Contract for Construction. It is anticipated that these documents will be approved by the Counts Attorney's Office prior to the November 14th Board meeting. The letter of credit, which represents 115% of the estimated cost to construct the remaining required improvements, will be submitted prior to recording the plat. It should be noted that all improvements within Phase II -A of Lindsey Lanes Subdivision will be public, and will be dedicated to Indian River County upon completion of the required subdivision improvements. RECOMMENDATION: Based on the above analysis, staff recommends that the Board of County Commissioners: 1. Grant final plat approval for Lindsey Lanes Phase II -A, and 2. Authonze the Chairman to execute the submitted Contract for Construction of remaining required improvements and accept the letter of credit that secures the contract. ATTACHMENTS: 1. Application 2. Location Map 3. Plat Layout 4. Contract for Construction NOVEMBER 14, 2000 -28- BKI16PG040