Title
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BRR-26-04 Babcock National-Phase 4
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Requested Motion/Action
Department Making Request
recommendation
Community Development
Approve a Bond Release of the surety provided under Letter of Credit No. FGAC-21669 in the amount of $121,462.00 for the completion of the remaining final lift of asphalt, sidewalks, and signage and markings, for Babcock National Phase 4. The site is 16.74± acres and is generally located south of Bermont Road, north of Greenway Boulevard, east of Olympic Court, and west of Babcock Trail, within the boundary of the Babcock Ranch Community Development of Regional Impact (DRI) Increment 1, in East County area. Located in Commission District I.
Quasi-Judicial
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Agenda Item Type
Consent
Budgeted Action:
No action needed.
Background (Why is this Action Necessary, and What Action will be accomplished)
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Background:
Banks Engineering, on behalf of Lennar Homes, LLC, is requesting a Bond Release of the approved surety provided under Letter of Credit No. FGAC-21669, issued by Fidelity Guaranty and Acceptance Corp., in the amount of $121,462.00, final lift of asphalt, sidewalks, and signage and marking. The subdivision consists of 59 residential lots, and was granted Final Plat approval by the Board of County Commissioners on January 25, 2022.
The County Engineer has approved the Engineer’s Opinion of Probable Cost for the new bond amount.
What Action will be accomplished?
If approved, the surety bond will be released.
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