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ON MOTION by Commissioner Solari, SECONDED by <br />Vice Chairman Flescher, the Board unanimously approved <br />an unconditional offer to purchase the necessary <br />right-of-way from Steven and Shelly Ryan, at a price of <br />$94,645.00, as recommended in the memorandum of <br />February 4, 2009. <br />13B. EMERGENCY ORDINANCE <br />County Attorney Collins recalled that at the February 5, 2009, Goals and Visions <br />Workshop, there was a consensus to bring forward an emergency ordinance to address the impact <br />of the international credit crisis on the local development community, in particular local <br />developers who are being turned down by banks when they request extensions of Letters of Credit <br />(LOC) that either support warranties of their subdivision improvements, or future sidewalk <br />construction. He said that the Community Development Department had drafted ordinance <br />amendments that would allow annual sidewalk security reductions, and also deferral of sidewalk <br />construction in the posting of sidewalk construction security, if certain conditions are met. A <br />similar amendment would allow reductions in the posting of maintenance security that could be <br />made at the end of year one (of the three-year warranty period) and also deferral of paving and <br />drainage warrant security, if certain criteria are met. He disclosed that site plan approval time <br />limitations have been extended from 12 months to 24 months. Due to this being an emergency <br />ordinance, it requires an action by a four-fifths vote, if the Board declares that an emergency exists, <br />• <br />and the immediate enactment of the ordinance is necessary. He informed the Board that the <br />Budget office had declared there to be approximately nine separate development projects that are <br />"under the gun" to have $1.1 million of security drawn on (against their LOC) within the next 30 <br />days, which is the reason this ordinance is being brought forward. Attorney Collins suggested the <br />Board conduct the public hearing and consider any necessary amendments. He pointed out that if <br />24 <br />February 10, 2009 <br />8t 136 Pt 795 <br />