Title
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FP-22-02-05, Tuckers Pointe Phase 1
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Requested Motion/Action
Department Making Request
recommendation
Community Development
Approve a Bond Reduction request and First Amendment to Developer’s Agreement to reduce the amount of the approved surety provided under Bond No. SPA150231_001 in the amount of $15,134,493.31 to $385,227.26 for the completion of the remaining infrastructure for Tuckers Pointe Phase 1. This site contains 505.61± acres and is generally located north of Tuckers Grade, east of Tamiami Trail, west and south of I-75, within the South County area. Located in Commission District II.
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:
Tuckers Developers, LLC is requesting a Bond Reduction and First Amendment to Developer’s Agreement to reduce the amount of the approved surety for Tuckers Pointe Phase 1. The 354-lot residential subdivision was granted Final Plat approval by the Board of County Commissioners on September 12, 2023. The plat infrastructure was previously bonded through Siriuspoint America Insurance Company in the amount of $15,134,493.31, which they are requesting be reduced to $385,227.26, consisting of the new Engineer’s Estimate of Probable Cost and 10% bonding amount.
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 Developer’s Agreement will be amended. All improvements must be completed per the approved plans to the satisfaction of the County Engineer or a new Developer’s Agreement must be in place and the County will accept the surety provided by Tuckers Developers, LLC (Developer).
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