City of Winter Haven Approves $5M+ Performance Bond for Willowbrook North Subdivision Improvements
by James Coulter
A subdivision located south of Lucerne Park Road will be able to move forward with the remainder of its improvements now that the City of Winter Haven has approved a modified performance bond.
At their regular meeting on Mon. Aug 11, Winter Haven city commissioners voted unanimously to pass a resolution approving a modified Performance Bond issued by Lexon Insurance Company for $5,069,711.0.
The bond will go towards improvements to the WillowbrookNorth Subdivision. The 132-acre subdivision, which consists of 434 building lots and nine common lots, is located south of Lucerne Park Road, east of Lake Fannie, and north of the Lake Fannie/Lake Smart Canal.
Initially, the developer, KRPC Willowbrook, LLC, had submitted a performance bond, issued by Lexon Insurance Company, for $7,235,221.79 for improvements. However, many improvements have yet to be completed.
Chris Young, Senior Planner, wrote that the improvements that remain incomplete include: “earthwork, sanitary sewer, potable water, stormwater management, off-site roadway improvements, and engineering certification.”
“While KRPC Willowbrook, LLC platted Willowbrook North as a single-phase subdivision plat, they chose to break the installation of required infrastructure into four ‘phases,'” Young wrote.
“At this time, they have completed the required infrastructure for ‘Phases 1 and 2’ and are now seeking the City’s acceptance of those improvements to be dedicated to the City and to modify the Performance Bond submitted as part of the subdivision plat approval process,” he further elaborated.
