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Fairview approves Belvoir Phase 2 subdivision agreement, bonds disclosed
Summary
The Board approved a subdivision development agreement for Belvoir Phase 2, which will create 53 residential lots; the city-recorded reclamation bond is $1,697,050 and the performance bond $5,300,436.
The Fairview Board of Commissioners voted unanimously on May 7 to authorize the mayor to execute the subdivision development agreement for Belvoir Phase 2.
City planner Mister Greer summarized the proposal: Belvoir Phase 2 consists of 53 residential lots (described in the packet as lots 201 through 253). Greer told the board the reclamation bond amount is $1,697,050 and the project’s performance bond is $5,300,436.
After brief questions from commissioners about the project, a motion to approve was seconded and carried 5-0.
Because the agreement was presented as a resolution (27-26) authorizing execution of the development contract, the board’s approval authorizes the mayor to sign the necessary documents to advance the subdivision under the terms presented.
