Title
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BRR-26-03, Babcock National-Phase 3
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Requested Motion/Action
Department Making Request
recommendation
Community Development
Approve a Bond Release of the surety provided under Letter of Credit No. FGAC-21489 in the amount of $53,526.00 for the completion of the remaining infrastructure for Babcock National - Phase 3. The site is 12.39± acres and generally located south of Bermont Road, north of Greenway Boulevard, east of Sugar Hill Drive, and west of the Babcock Trail, in the boundary of the Babcock Ranch Community Development of Regional Impact (DRI) Increment 1. Located in Commission District I.
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 Release of the approved surety provided under Letter of Credit No. FGAC-21489, issued by Fidelity Guaranty and Acceptance Corp., in the amount of $53,526.00 for the completion of the remaining infrastructure for Babcock National - Phase 2. The subdivision, consisting of 38 single-family lots was granted Final Plat approval by the Board of County Commissioners on November 23, 2021.
What Action will be accomplished?
If approved, the surety bond will be released.
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