FISCAL IMPACT:
No fiscal impact.
BACKGROUND:
The Subdivision Agreement needs to be renewed as the improvements are not completed yet. (Approximately 50% of the work has been completed to date.) The developer has requested additional time to complete improvements. Granting an extension gives the developer an additional year to complete the improvements and keep the bonding current.
CONSEQUENCE OF NEGATIVE ACTION:
The Subdivision Agreement will not be renewed if the extension is not granted; the developer cannot complete the improvements; the bonds cannot be kept current; and, the County may need to foreclose on the developer’s bonds and complete the improvements.
CHILDREN'S IMPACT STATEMENT:
Not applicable.