Approve Routine Cable/Telecommunications Extension Agreement for The Villas at Berry Hill, W.O. 9976C ($71,135.59):

Staff recommends that the Board approve the routine Cable/Telecommunications Extension Agreement for The Villas at Berry Hill, associated with W.O. 9976C in the amount of $71,135.59.  Under our Policy, the Developer is allowed one of two options for paying the estimated cost of construction.  Mr. Scott McGraw, Member of Hinton-McGraw Berry Hill, LLC, chose Option 2 which states the Developer must submit a letter of credit for the amount of the contract and the lending institution providing the letter of credit must be approved by the Board unless they are a local institution.  The lending institution is Irwin Union Bank, Louisville , Kentucky .  The letter of credit will be payable in three installments.