SUBJECT:
Title
Request Approval of Marion County Subdivision Improvement Agreement with Surety Bond for 95th Street Holdings, LLC for Pioneer Ranch Phase 5 Subdivision, Application Number 31007 (Budget Impact - None)
Body
INITIATOR: DEPARTMENT:
Steven Cohoon, P.E., County Engineer Office of the County Engineer
DESCRIPTION/BACKGROUND:
The Pioneer Ranch Phase 5 Subdivision Final Plat is being considered concurrently with this Subdivision Improvement Agreement with Surety Bond. Land Development Code Section 2.18.4.D states that if the improvements are not completed, an Improvement Agreement shall be provided and approved by the Board, as well as a security, limited to an irrevocable letter of credit or bond only, in the amount of 120 percent of the estimated cost of remaining improvements.
The County Attorney’s office has reviewed and approved the Subdivision Improvement Agreement with Surety Bond in the amount of $3,496,874, including landscaping. This subdivision is located in the southwest portion of the County containing 99 lots and 0.48 miles of road on approximately 14.84 acres.
BUDGET/IMPACT:
None
RECOMMENDED ACTION:
Recommended action
Motion to approve the attached Marion County Subdivision Improvement Agreement with Surety Bond and to authorize the Chairman and Clerk to execute the same.
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