Discussion and possible action to approve the release of the Amended Letter of Credit No. SBP702794 for the completed public road improvements associated with Gateway Unit 1 Subdivision Plat and authorizing the Webb County Judge to sign any and all relevant documents; and any other matters incident thereto.
 
Issue: The Webb County Commissioners Court issued final plat approval to the Gateway Unit 1 Subdivision Plat on December 12, 2022.  In lieu of finalizing the construction of the proposed public road improvements, the developer submitted an irrevocable Letter of Credit in accordance with State statutes.  The developer has finalized the proposed road improvements and they have been inspected and approved by the Webb County Engineering and Planning Departments.
 
Solution: With the completion and acceptance of the public road improvements, a financial guarantee for the construction is no longer required.  Releasing the Letter of Credit back to the developer will satisfy State and County platting regulations.
 
Result: The Gateway Unit 1 Subdivision plat project will be finalized in compliance with State and Local regulations.

The Webb County Commissioners Court issued final plat approval to the Gateway Unit 1 Subdivision Plat on December 12, 2022.  In lieu of finalizing the construction of the proposed public road improvements, the developer submitted an irrevocable Letter of Credit in accordance with State statutes.  The developer has finalized the proposed road improvements and they have been inspected and approved by the Webb County Engineering and Planning Departments.

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