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Final Plat for Space Shop and Acceptance of Performance Bond With SIG Spring Hill Commercial, LLC, and Capital Indemnity Corporation for The Space Shop Project
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BRIEF OVERVIEW
The Space Shop is a 4-lot subdivision. The plat has bee prepared and is ready for Board approve and signature. The developer, SIG Spring Hill Commercial, LLC is posting a performance bond in the amount of $2,773,674.00 to secure related subdivision improvements.
FINANCIAL IMPACT
There are no budgetary impacts associated with the recommended action.
LEGAL NOTE
The Board has authority to act on this matter pursuant to Chapter 26, Code of Ordinances, and Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve the final plat for The Space Shop and accept the performance bond from SIG Spring Hill Commercial, LLC in the amount of $2,773,674.00.