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DESCRIPTION AND CONDITIONS: Oak Chase Phase III is a 24 -lot, 9.66 -acre final phase of a three-phase subdivision project. Located on the south side of 37th Street, and east of 66th Avenue, the property is zoned RS - 3 (Residential Single-family, up to 3 unitlacre) and has an L-1 (Low Density 1 up to 3 units /acre) land use designation. The density of Phase Iii is 2.47 units per acre. Oak Chase Phase I and Phase II have been platted and constructed; Phase III is mostly constructed. Oak Chase Phase HI encompassed in this final plat, is located immediately north of Phase II and provides for an extension of the roadway from Phase II and a subdivision entrance on 37th Street. At its regular meeting of April 8, 1999, the Planning and Zoning Commission ranted preliminary plat approval for the overall subdivision (all three phases). The applicant is bonding out some remaining required improvements as part of the final plat approval process. The owner, Oak Chase Development L.L.C., through its agent Carter Associates Inc, is now requesting final plat approval and has submitted the following: 1. A final plat in substantial conformance with the approved preliminary plat. 2. A Certified Engineer's Cost estimate for remaining required improvements. 3. A Contract for Construction for the remaining required subdivision improvements. 4. A Security arrangement guaranteeing the contract for construction. ANALYSIS: • A majority of the required Phase III subdivision improvements have been constructed, with the exception of some infrastructure items. Consistent with county regulations, the developer wishes to ' bond out' for construction of the remaining required improvements. An engineer's certified cost estimate for completion of the remaining required improvements has been reviewed and approved by Public Works Department, Utilities Services Department, and the Community Development Department The developer also has submitted a copy of the Contract for Construction of Required Improvements. The contract, which is on a standard form, has been approved by the County Attorney s Office. All subdivision improvements are pnvately dedicated with the exception of the utility system, which is separately warranted through the Department of Utility Services. Therefore, no subdivision warranty and maintenance agreement is required. RECOMMENDATION: Based on the above analysis, staff recommends that the Board of County Commissioners grant final plat approval for Oak Chase Phase III, authorize the Chairman to execute the Contract for Construction and any security documents, and accept the security. ATTACHMENTS: 1. Application 2. Location Map 3. Plat Graphic 4. Contract for Construction July 23, 2002 24