Action 22.
Regular Board of Supervisors Meeting
Community Development
- Meeting Date:
- 09/11/2018
- Title:
- Substitution and Extension of the Assurance Agreement for Morning Star Airpark
- Submitted By:
- Robert Kirschmann, Community Development
- Department:
- Community Development
- Division:
- Development Services
Presentation:
PowerPoint
Recommendation:
Approve
Document Signatures:
BOS Signature Required
# of ORIGINALS
Submitted for Signature:
Submitted for Signature:
0
NAME
of PRESENTER:
of PRESENTER:
Robert Kirschmann
TITLE
of PRESENTER:
of PRESENTER:
Planner II
Mandated Function?:
Not Mandated
Source of Mandate
or Basis for Support?:
or Basis for Support?:
Docket Number (If applicable):
Information
Agenda Item Text:
Approve a substitution and extension of the Assurance Agreement for Morning Star Airpark with Pioneer Title Agency, Inc as Trustee under Trust No. TR9263 for Morning Star Airpark, LLC as Beneficiary of Trust No. 70200840; Assurance Agreement lapsed April 24, 2017 with a request of extension until April 24, 2025.
Background:
This request is from Morning Star Airpark, LLC for substitution and extension of the Assurance Agreement for completion of subdivision improvements for the Morning Star Airpark subdivision. The subdivision consists of 142 lots on 433.5 acres located on SR191 and Birch Road.
The Final Plat and Assurance Agreement were approved by the BOS in 2012. A substitute agreement was approved in 2012 for five (5) years. That assurance agreement lapsed in April 2017. This extension request if approved will cover the lapse and extend the assurance agreement to April 24, 2025.
The Final Plat and Assurance Agreement were approved by the BOS in 2012. A substitute agreement was approved in 2012 for five (5) years. That assurance agreement lapsed in April 2017. This extension request if approved will cover the lapse and extend the assurance agreement to April 24, 2025.
Department's Next Steps (if approved):
If approved, the Chairwoman will sign the Assurance Agreement and it will be recorded with a new expiration date of April 24, 2025.
Impact of NOT Approving/Alternatives:
The completion of subdivision improvements for the remaining phases of the subdivision would not be secured under an approved Assurance Agreement.
To BOS Staff: Document Disposition/Follow-Up:
Please secure the necessary signatures on the original Assurance Agreement document and send to Planning staff for recording of the document