Approval of Amendment to Developer's Agreement with Lennar Homes for the Bent Creek Subdivision.

Attached for your approval is a final draft of the proposed Developer’s Improvement Agreement and Amendment to Existing Developer’s Improvement Agreement for Bent Creek Tract B-2. This amends the previous Developer’s Improvement Agreement by providing the developer the ability to develop the next tract, known as B-2, as along as other improvements are completed. These other improvements include the internal improvements for tract B-2, as well as the construction of Peterson Road. As you know, a Community Development District was recently approved by the City Commission to provide a funding mechanism for the construction of Peterson Road. Further, there are deadlines for completion of these items, as well as performance bonds that will be in place to secure completion of said improvements.
 
City staff has been working with the developer on this agreement and recommends approval. This office also approves of the agreement as to form and correctness.

Approve.

Do not approve.

Peter Sweeney - City Attorney

Jack Andrews - Engineering Department
Jennifer Hoffmeister - Planning Department