Title
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BRR-26-06 Palmetto Landing
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Requested Motion/Action
Department Making Request
recommendation
Community Development
Approve a Bond Reduction request and First Amendment to Development Agreement to reduce the amount of the approved surety provided under Bond No. 800158598 in the amount of $11,743,177.93 to $271,524.33 for the completion of the remaining infrastructure for Babcock Ranch Community Palmetto Landing. The site contains 127.78± acres and is generally located north of the Lee County boundary, south of Bermont Road, east of Bluebird Trail, and west of the Glades County boundary. Located in Commission District I.
**Added, 4/23/2026**
Quasi-Judicial
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Agenda Item Type
Public Hearing
Budgeted Action:
No action needed.
Background (Why is this Action Necessary, and What Action will be accomplished)
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Background:
D.R. Horton, Inc. is requesting a bond reduction and First Amendment to Developer’s Agreement to reduce the approved surety provided under Bond No. 800158598, issued by Atlantic Specialty Insurance Company in the amount of $11,743,177.93 to $271,524.33 for the completion of the remaining infrastructure for Babcock Ranch Community Palmetto Landing. The residential subdivision, consisting of 499 residential, six lake tracts, one right-of-way tract and a future amenity center tract, was granted Final Plat approval by the Board of County Commissioners on September 13, 2022. This site contains 128.78± acres and is generally located north of the Lee County boundary, south of Bermont Road, east of Bluebird Trail, and west of the Glades County boundary. The property is in Babcock Ranch Community Development of Regional Impact Increment 2, within East County area, and in Commission District I.
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 Development Agreement will be extended until January 1, 2027, at which time all improvements must be completed per the approved plans to the satisfaction of the County Engineer or a new Development Agreement must be in place and the County will accept the surety provided by D.R. Horton, Inc. (Developer).
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