Board approves multi-phase incentive agreement for Tory Preserve housing project
The IDA approved a development incentive and deliverables agreement for the Torrey (Tory) Preserve Bostock Road project that will be phased and requires PUD approval before land purchase and infrastructure reimbursements occur.
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The board voted to approve a development incentive and deliverables agreement with LM Properties of Polk County for the Torrey Preserve (Bostock Road) housing project. Ms. Chapman told the board the IDA received 82 acres under an LDA with Mosaic and staff negotiated a multi-year, phased agreement intended to deliver infrastructure and land-acquisition incentives when developer deliverables are met.
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