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Council accepts developer performance bond to permit early lot sales at Cascade Point subdivision
Summary
Oconee County Council approved accepting a developer performance bond covering 25% of estimated infrastructure completion costs so the developer may sell the first phase of Cascade Point subdivision lots while finishing infrastructure work.
Oconee County Council approved acceptance of a developer performance bond on Jan. 31 to allow the Cascade Point subdivision developer to sell lots in an initial phase before all infrastructure was complete.
Staff described the arrangement as a commonly used surety: the developer posts a bond for a portion of the estimated cost to complete roads, water and sewer to final plat standards (staff said the developer…
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