SUBJECT:
Title
Request Approval of Marion County Subdivision Improvement Agreement with Surety Bond and Supplement to Marion County Subdivision Improvement Agreement with Surety Bond for 95th Street Holdings, LLC Associated with Pioneer Ranch Phase 2, Application Number 31006 (Budget Impact - None)
Body
INITIATOR: DEPARTMENT:
Steven Cohoon, P.E., County Engineer Office of the County Engineer
DESCRIPTION/BACKGROUND:
The project developer desires approval of their Final Plat prior to completing all improvements in their development of Pioneer Ranch Phase 2. 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 attached agreements outline proposed improvement timing and surety for improvement completion.
The Subdivision Improvement Agreement has been traditionally used, and a supplemental agreement has been created to provide for items such as amenities, landscaping and buffering. Specifically, for this development, section 2 of the supplemental agreement specifies that phases one (1) and two (2) amenity area (clubhouse/pool) shall be permitted and bonded at 120% construction cost prior to issuance of the 200th Certificate of Occupancy within phases one (1) - five (5) of the development. Phases three (3) and four (4) amenity area (sports court area) shall be constructed and in service prior to the 100th certificate of occupancy within phases three (3) and four (4). Phase five (5) amenity area (dog-park) shall be constructed and in service prior to the 70th certificate of occupancy in phase five (5).
Section 3 of the supplemental agreement will allow the landscaping/buffering completion to be deferred to the earlier of six (6) months after the date that the Florida Department of Environmental Protection issues a total water clearance letter for the water system, or 12 months after the date of this agreement.
The County Attorney’s office has reviewed and approved the Subdivision Improvement Agreement with Surety Bond in the amount of $2,767,464 and the Supplemental Improvement Agreement with Surety Bond in the amount of $135,015. This subdivision is located in the southwest portion of the County and contains 189 lots on 57.42 acres with 1.31 miles of roads.
BUDGET/IMPACT:
None
RECOMMENDED ACTION:
Recommended action
Motion to approve the attached Marion County Subdivision Improvement Agreement With Bond and Supplement To Marion county Subdivision Improvement Agreement With Bond and to authorize the Chairman and Clerk to execute the same.
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