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Old 05-16-2012, 06:57 PM
 
Location: Port St. Lucie, Florida
4,507 posts, read 9,195,244 times
Reputation: 1999

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Those of you that have been "landlocked" to only being able to get in and out of your homes on the west by way of Savage Blvd to Gatlin .... rejoice!! FINALLY!



Port St. Lucie Council approves funds for Crosstown Parkway connector | Video » TCPalm Mobile

I know you're happy!

From what I saw it won't be the road of your dreams with sidewalks and curbs.. but ..its a road and a way OUT!
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Old 05-16-2012, 07:29 PM
 
Location: Venice, FL
1,690 posts, read 2,794,563 times
Reputation: 731
Yeah- I saw that on the news this morning and instantly thought about the thread on here about that. Good deal!
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Old 05-18-2012, 12:32 PM
 
89 posts, read 193,965 times
Reputation: 83
Default What No Bond For Developers?????

Coming from the Northeast and being involved in the infrastructure of several new housing developments in RI and MA it is hard for me to believe that the City of Port Saint Lucie would not be holding a bond equal to 10% of the total
cost of the project. Are they asleep at the wheel or are there no provisions in place for a bond? If there was a bond required who released it prior to the completion of the project? Great City Management!

And just think, Governor Scott just signed into law that HOA's cannot sue developers for infrastructure defects and shoddy road work. What a great State this is turning out to be. That sob will not be getting my vote in the next election.
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Old 05-19-2012, 08:12 AM
 
Location: Port St. Lucie, Florida
4,507 posts, read 9,195,244 times
Reputation: 1999
That area of homes is NOT an HOA.

It is not a part of Tradition either

From what I understand they are taking money away from another project and giving it to this one.
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Old 05-19-2012, 03:27 PM
 
Location: Venice, FL
1,690 posts, read 2,794,563 times
Reputation: 731
Correct. They are taking from the Bayshore Blvd project, which will be moved to next year:

Port St. Lucie Council approves funds for Crosstown Parkway connector | Video » TCPalm.com
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Old 05-19-2012, 07:11 PM
 
89 posts, read 193,965 times
Reputation: 83
Quote:
Originally Posted by SeetheUSA View Post
Correct. They are taking from the Bayshore Blvd project, which will be moved to next year:

Port St. Lucie Council approves funds for Crosstown Parkway connector | Video » TCPalm.com
Fine, but it still does not release the City from requiring a bond by the original builder. Does not matter whether this is a HOA or independent community. You are all missing the point, in most areas of the USA a builder MUST post a bond equal to 10% of the total estimate of the project. The builder would solicit a bonding company who in turn sets a policy premium based on the builders credit and credentials in the trade. The City is named as the bond beneficiary and if the builder defaults, like Kennedy, then the City collects the amount of the bond from the bonding company and the builder will never ever again be able to build anywhere. If a bond were in place the City of PSL would collect the funds and not have to take the money from their coffers. We save on possible tax increases.
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Old 05-20-2012, 07:50 AM
 
Location: Venice, FL
1,690 posts, read 2,794,563 times
Reputation: 731
59Chevy, I'm not disagreeing with you at all. Believe me, I'm all for holding people/companies responsible for things they say they are going to do. I just read an earlier thread about the lack of access to this area and was trying to shed light on it.
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Old 05-20-2012, 08:14 AM
 
1,257 posts, read 4,574,490 times
Reputation: 1034
Quote:
Originally Posted by FlaLadyB View Post
Those of you that have been "landlocked" to only being able to get in and out of your homes on the west by way of Savage Blvd to Gatlin .... rejoice!! FINALLY!



Port St. Lucie Council approves funds for Crosstown Parkway connector | Video » TCPalm Mobile

I know you're happy!

From what I saw it won't be the road of your dreams with sidewalks and curbs.. but ..its a road and a way OUT!
Great news!!! Happy for the residents who live there.
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Old 05-21-2012, 06:51 AM
 
Location: Port St. Lucie, Florida
4,507 posts, read 9,195,244 times
Reputation: 1999
Maybe I'm confused about your question. The "builder" being who?

The homes were built by inividual builders- scatters lots - no one particular builder, lots of different ones. The only responsibility they had was the one house there were building on.
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Old 05-22-2012, 06:48 PM
 
89 posts, read 193,965 times
Reputation: 83
Quote:
Originally Posted by FlaLadyB View Post
Maybe I'm confused about your question. The "builder" being who?

The homes were built by inividual builders- scatters lots - no one particular builder, lots of different ones. The only responsibility they had was the one house there were building on.
Let me see if I can clear this up for you non construction individuals, no insult intended or implied. In our case, at Heritage Oaks, the builder or call him the DEVELOPER, was Kennedy Homes. He did all the roads as well as the rest of the infrastructure. Maybe under different company names but it does not matter.
He should have been required to post a bond equal to 10% of the total cost of the infrastructure cost. It it was $20,000,000 then a bond equal to $2,000,000 should have been held by the City of Port St. Lucie. If he did not finish the roads submitted in the original plan approved by the Planning Board then the City would complete the work and pay for it against his posted bond.
A bonding company is like an insurance company. The higher the bond the higher the premium cost per year. The premium is based on how the builder has performed in the past, just like a credit report. Bad report, higher the interest rate for a loan.
Hope this clears up what what I am trying to get across with the importance of a bond being required by Developers. btw, bonds do not affect the individual building of homes, only infrastructure.
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