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