Title
The Gardens Phase 8 plat 3 Temp Cul-de-sac LOC - Extension
Body
SUMMARY: The developer of The Gardens is requesting a 6 month extension on the financial guarantee for a temporary cul-de-sac at the end of Phase 8 plat 3. Due to changes in the overall plan and the cost of construction the amount has been increased. The current LOC is in the amount of $9,883.00. The amount of the new LOC is $17,771.00.
STAFF RECOMMENDATION: Staff recommends the release of the existing LOC and acceptance of the extension and new LOC.
Recommended Action
NECESSARY PLANNING COMMISSION ACTION: Two motions. First, release the existing letter of credit. Second, accept the new letter of credit and grant a 6 month extension.