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improvements are completed, the Board needs to authorize staff to pull the letter of credit before the <br /> September 13th expiration date . In July, staff informed the developer of its position regarding the <br /> need for completion of the improvements and intent to obtain Board authorization to pull the letter <br /> of credit . <br /> ANALYSIS * <br /> The LDRs allow for certain subdivision improvements, including the construction of internal project <br /> sidewalks and the provision of a final layer of asphalt, to be completed after final plat approval and <br /> after homes are built in a new subdivision . Such arrangements are reasonable since they allow <br /> significant home construction activity, that might otherwise damage and require repair of "finishing" <br /> improvements , to occur prior to completion of finishing improvements . However, at some point <br /> these finishing improvements must be completed. <br /> Based on the previous one year extension of the Letter of Credit and contract for construction, the <br /> developer has had ample time to complete the required finishing improvements. Staff is not in favor <br /> of an additional extension, and recommends that the required improvements be completed as soon <br /> as possible. To ensure completion of the required improvements, the Board needs to authorize staff <br /> to pull the existing letter of credit by adopting the attached resolution. <br /> RFCONIMFNDATION : <br /> Staff recommends that the Board of County Commissioners adopt the attached resolution <br /> authorizing staff to pull the existing letter of credit for Hammock Lakes Phase I PD . <br /> ATTACHMFNTS <br /> 1 . Location Map <br /> 2 . Existing Letter of Credit (copy) <br /> 3 . Resolution to Pull the Existing Letter of Credit <br /> 4 . County Engineer ' s Letter to Developer <br /> 5 . Planning Director' s Letter to Developer <br /> ON MOTION by Commissioner Macht, SECONDED BY <br /> Commissioner Adams , the Board unanimously adopted <br /> Resolution No . 2001 - 079 declaring default by Hammock Lake <br /> Associates , Ltd . , in its obligation to install sidewalks and/or <br /> appropriate asphalt on roadway , and authorizing staff to make <br /> sight draft against Atlantic States Bank irrevocable standby <br /> letter of credit SB70004 dated September 13 , 1999 , and as <br /> amended by amendment number 1 dated August 28 , 2000 . <br /> September 4 , 2001 <br /> 59 <br /> B I ! 9 PG 3 7 <br />