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• • DESCRIPTION & CONDITIONS : St. Philips ' Island is a 12 lot subdivision of a 2 . 79 acre parcel . The subject property is part of the overall Grand Harbor conceptual PRD plan and is consistent with that plan . The subject site is located on the east/central portion of the overall Grand Harbor development . The subject site is zoned RM -6 and has an M- 1 land use designation . On May 27 , 1999, the Planning and Zoning Commission granted preliminary plat approval for St. Philip ' s Island (POD D ) . The applicant has subsequently obtained a land development permit and commenced construction for POD D . The applicant is proposing to " bond -out " for required improvements as allowed by the land development regulations (LDRs ) . The applicant is now requesting final plat approval and has submitted the following : I • A final plat in conformance with the approved preliminary PD plan/plat, and 2 • An Engineers Certified Cost Estimate for the remaining required improvements , and 3 . A completed Contract for Construction of remaining required improvements . ANALYSIS : Most but not all of the required subdivision improvements have been completed . The applicant is Proposing to "bond -out" for the remaining required subdivision improvements as provided for in the county ' s LDRs . Public Works has reviewed and approved the submitted Engineer' s Certified Cost Estimate and corresponding cash escrow amount. The County Attorney ' s Office has reviewed and approved the submitted Contract for Construction . The cash escrow , which represents 11570 of the estimated cost to construct the required improvements , has been submitted. It should be noted that all improvements within the Grand Harbor development will be private, with the exception of certain utilities facilities that will be dedicated and guaranteed to Indian River County as required by the Utility Services Department. RECOMMENDATION: Based on the above analysis, staff recommends that the Board of County Commissioners : I • Grant final plat approval for St. Philips Island (POD D) , and 2 • Authorize the Chairman to execute the submitted Contract for Construction of remaining required improvements and cash deposit escrow agreements that secure the contract. ATTACHMENTS : mean P .w Ca A oarorea Date 1 • Application Admin 1iy _r 7 v , 2 • Location Map 1egar it. > 3 . Plat Layout Hioget r 4 . Contract for Construction Dept 5 . Cash Escrow Agreement aisle Mgr May 8 , 2001 17 e' Eil8H ! i �