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Final Plat for Leyland Preserve and Acceptance of Performance Bond With Meritage Homes of Florida, Inc., and Arch Insurance Company
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BRIEF OVERVIEW
Leyland Preserve is a 134-lot subdivision. The plat has been prepared and is ready for Board approval and signature. Developer Meritage Homes of Florida, Inc., is posting a performance bond in the amount of $3,450,860.95 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 Leyland Preserve and accept the performance bond from Arch Insurance Company in the amount of $3,450,860.95