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Release of Maintenance Security for Waterford f/k/a Cortez Oaks Phase 2A
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BRIEF OVERVIEW
Waterford (FKA - Cortez Oaks Phase 2A) is at the end of the maintenance period and has been found to be in acceptable condition by the Hernando County Department of Public Works, Utilities Development, Zoning Subdivisions and Fire Services. The Waterford (FKA - Cortez Oaks Phase 2A) subdivision will have maintenance responsibility for roads, water and sewer infrastructure.
FINANCIAL IMPACT
No financial impact as the County is not maintaining the infrastructure.
LEGAL NOTE
The Board has authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve the release of Maintenance Bond in the amount of $428,122.65 for Waterford (FKA - Cortez Oaks Phase 2A) posted by developer Oak Hill Land LLC.