Title
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FP-19-06-08, Biscayne Landing North
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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, Biscayne Landing North. The site contains 70.91± acres and is located east of Biscayne Drive, north of El Jobean Road, west of the Flamingo Waterway, and south of Crofton Springs Way. Located in Commission District IV.
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:
Banks Engineering, on behalf of Lennar Homes, LLC, is requesting a bond release of the approved surety provided under Letter of Credit No. FGAC‐22413, issued by Fidelity Guaranty and Acceptance Corp., in the amount of $128,936.50 for the completion of the remaining second lift of asphalt for the subdivision named, Biscayne Landing North. The subdivision, consisting of 141 lots, was granted Final Plat approval by the Board of County Commissioners on September 13, 2022.
The applicant was originally granted approval of a Developer’s Agreement and surety in the amount of $1,725,648.47 to ensure the completion of the infrastructure for the subdivision. The applicant requested a bond reduction and First Amendment to the Developer’s Agreement, which was approved on September 10, 2024, and recorded on September 12, 2024, to reduce the amount of the Security from $1,725,648.47 to $128,936.50, which was in place at time of this bond release request.
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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