SUBJECT:
Title
Request Approval of an Indemnification Agreement and Subdivision Improvement Agreement with Letter of Credit Between Millrose Properties Florida, LLC and Marion County for the Proposed Whisper Woods Subdivision, Final Plat-33542 (Budget Impact - None)
Body
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INITIATOR: |
DEPARTMENT: |
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Steven Cohoon, PE, County Engineer |
Office of the County Engineer |
DESCRIPTION/BACKGROUND:
This is a request seeking approval of an Indemnification Agreement and Subdivision Improvement Agreement with Letter of Credit. Subdivision Improvement Agreements, outlined under Land Development Code (LDC) Section 2.18.4.D, allow for the filing of a Final Plat prior to subdivision improvements being completed upon posting of a security instrument in the amount of 120% of the estimated cost of remaining improvements. Indemnification agreements, outlined under LDC Section 2.18.4.E, will allow for up to 37 individual building permits representing 50% of the density on a per lot basis within the project. The six (6) conditions outlined in the proposed Indemnification Agreement have been met.
This subdivision is located in the southeast portion of the County, within the Silver Springs Shores community, and contains 74 lots and 5 tracts on 10.33 acres with 0.36 miles of roads.
BUDGET/IMPACT:
None
RECOMMENDED ACTION:
Recommended action
Motion to approve the attached Indemnification Agreement and Subdivision Improvement Agreement with Letter of Credit between Millrose properties Florida, LLC and Marion County for the proposed Whisper Woods Subdivision and authorize the Chairman and Clerk to execute the same.
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