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3. An approved cost estimate for the remaining required work. The Board is now to consider granting final plat approval. ANALYSIS: The majority of the required subdivision improvements have been constructed, with the exception of some drainage, paving, utility, and Landscaping improvements. At this time, the applicant is proposing to "bond -out ' these remaining required improvements for this development with a letter of credit, as provided for in the county's land development regulations. Both the Public Works Department and the Utility Services Department have reviewed and approved the submitted engineers cost estimate and corresponding security amount. In addition, the County Attorney's Office has reviewed and approved the submitted contract for construction. It should be noted that all improvements within River Island will be private, except for the utility facilities. The utility facilities will be dedicated to Indian River County as required by the Utility Services Department. RECOMMENDATION: Based on the analysis, staff recommends that the Board of County Commissioners: 1. Grant final plat approval for the River Island PD, and 2. Authorize the chairman to sign the contract for construction of remaining required improvements. Subject to receipt of an acceptable letter of credit fromindian River National Bank in the amount of $53,563.11. AUGUST 20, 2002 ON MOTION by Commissioner Macht, SECONDED by Commissioner Adams, the Board, by a 4-0 vote (Commissioner Ginn absent) unanimously granted final plat approval for the River Island PD and authorized the Chairman to sign the contract for construction of remaining required improvements; subject to receipt of an acceptable letter of credit from Indian River National Bank in the amount of $53,563.11, as recommended by staff. COPIES OF DOCUMENTS ARE ON FILE IN THE OFFICE OF THE CLERK TO THE BOARD 20 ' ' Y' V