Title
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FP-22-12-26, Harbor East
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Requested Motion/Action
Department Making Request
recommendation
Community Development
Approve a Bond Reduction and First Amendment to Developer's Agreement to reduce the amount of the approved surety provided under Letter of Credit No. FGAC-23318, issued by Fidelity Guaranty and Acceptance Corp., in the amount of $2,502,008.14 to $169,957.32 for the completion of the remaining infrastructure for Harbor East. The subdivision, consisting of 82 single-family lots and six tracts, was granted Final Plat approval by the Board of County Commissioners on October 24, 2023. The site contains 31.06? acres and is generally located north of Tate Waterway, southwest of Interceptor Lagoon, and east of Aquarius Waterway, within the Port Charlotte 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:
Lennar Homes, LLC is requesting a Bond Reduction and First Amendment to Developer's Agreement to reduce the amount of the approved surety provided under Letter of Credit No. FGAC-23318, issued by Fidelity Guaranty and Acceptance Corp., in the amount of $2,502,008.14 to $169,957.32 for the completion of the remaining infrastructure for Harbor East. The subdivision, consisting of 82 single-family lots and six tracts, was granted Final Plat approval by the Board of County Commissioners on October 24, 2023. The site contains 31.06? acres and is generally located north of Tate Waterway, southwest of Interceptor Lagoon, and east of Aquarius Waterway, within the Port Charlotte area and in Commission District III.
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 t...
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