Title
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FP-13-01-01, Coral Caye
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Requested Motion/Action
Department Making Request
recommendation
Community Development
Approve a Bond Release for the Final Plat of a residential subdivision named, Coral Caye. The site contains 35.20? acres and is generally located northeast of Placida Road, west of Cape Haze Drive, and south of Dixon Lane, in the Placida and West County area. Located in Commission District III.
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:
Placida Commons, LLC is requesting a bond release of the cash bond in the amount of $80,503.50 for the completion of the improvements for Coral Caye. The subdivision consists of 95 lots and was granted Final Plat approval by the Board of County Commissioners on May 26, 2015.
At the time of Final Plat application, the applicant was granted approval of a Development Agreement and surety in the amount of $80,503.50 to ensure the completion of the plat infrastructure. On April 26, 2016, the First Amendment to the Developer's Agreement was adopted, extending the completion of the improvements to two (2) years from the date of the amendment. On April 24, 2018, the Second Amendment to the Developer's Agreement was adopted, extending the date for required completion of the improvements to two (2) years from the date of the amendment. On May 12, 2020, the Third Amendment to the Developer's Agreement was adopted, requiring that all improvements be completed within two (2) years of the date of the amendment.
At the time of Final Plat application, the applicant was granted approval of a Developer's Agreement and surety in the amount of $80,503.50, to ensure the completion of the plat infrastructure.
All work has been completed and accepted by the Public Works Department and the County Engineer.
What Action will be accomplished?
If approved, the surety bond will be released.
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