Title
title
FP-23-03-05, Cali Cove Bond Release
end
Requested Motion/Action
Department Making Request
recommendation
Community Development
Approve a Bond Release for the Final Plat of a residential subdivision named Cali Cove. The site contains 26.22± acres and is generally located north of Acline Road, southwest of Taylor Road, and west of Indian Springs Cemetery Road, within the Punta Gorda area. Located in Commission District II.
Quasi-Judicial
end
Agenda Item Type
Consent
Budgeted Action:
No action needed.
Background (Why is this Action Necessary, and What Action will be accomplished)
body
Background:
On behalf of JDG Cali Cove, LLC, Banks Engineering is requesting a Bond Release of the approved surety provided under Bond No. 100342171, in the amount of $3,008,805.55, issued by Merchants National Bonding, Inc. for the completion of the remaining infrastructure for Cali Cove. The subdivision, consisting of 89 lots and eight tracts, was granted Final Plat approval by the Board of County Commissioners on September 24, 2024.
At the time of Final Plat application, the applicant was granted approval of a Developer’s Agreement and surety in the amount of $3,008,805.55, 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.
end