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Release of Maintenance Bond for Kensington Place Subdivision
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BRIEF OVERVIEW
Meritage Homes of Florida, Inc., is requesting release of the $403,112.05 Maintenance Period for the Kensington Place Subdivision project.
Meritage Homes of Florida, Inc, is at the end of the maintenance period and has been found to have met the Maintenance Bond requirements.
FINANCIAL IMPACT
A matter of policy. There is no financial impact.
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 26, Article II, Section 26-21 of the Hernando County Code of Ordinances, and Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve the release of the $403,112.05 Maintenance Bond for the Kensington Place Subdivision.