Title
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BRR-26-08 Starling - Phase 1
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Requested Motion/Action
Department Making Request
recommendation
Community Development
Taylor Morrison of Florida, Inc. is requesting a Bond Reduction and second amendment to reduce the approved surety provided under Bond No. LICX1981026, issued by Lexon Insurance Company in the amount of $16,108,533.55 to $6,420,749.89 for the completion of the remaining infrastructure for Starling Phase 1 Replat 1. The residential subdivision consists of 292 single-family lots and 23 tracts for roadways, a lake, open space, and future development. This Second Amendment replaces the Amended Developer's Agreement with a Construction and Maintenance Agreement. This site contains 105.175? acres and is generally located south of Notre Dame Boulevard, north of Zemel Road, east of Burnt Store Road, and west of Green Gulf Boulevard. The property is in the Punta Gorda area, within the boundary of the Burnt Store Area Plan area and 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:
Taylor Morrison of Florida, Inc. is requesting a Bond Reduction and Second Amendment to the Developer's Agreement to reduce the approved surety for Starling Phase 1 Replat 1. The residential subdivision consists of 292 single-family lots and 23 tracts for roadways, a lake, open space, and future development and was granted Final Plat approval by the Board 7/23/2024. The plat infrastructure is bonded through Lexon Insurance Company in the amount of $16,108,533.55 which they are requesting to be reduced to $6,420,749.89, consisting of the new Engineer's Estimate of Probable Cost and 30% bonding amount.
A traffic improvement agreement has been drafted to address the PD Final Detail Site Plan requirement that the Developer shall install, at its expense, a traffic signal on Burnt Store Road at the main residential ...
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