Comal County commissioners are scheduled to decide Oct. 1 whether to accept a one-year extension of the Lark Canyon Unit 2 construction bond.
If approved, the certificate would keep a $2,458,913.67 surety ceiling in place for Lark Canyon Unit 2 through Nov. 18, 2027.
Westwood’s Sept. 8 estimate lists streets, drainage, sewer, water, dry utilities and miscellaneous work at 0% complete.
What the guarantee covers
The guarantee calculation adds a 10% contingency to each category. Sewer carries the largest guaranteed amount at $570,757.18, followed by drainage at $509,085.06, streets at $488,816.25 and miscellaneous work at $487,611.85. Water and dry utilities account for the balance.
The recorded plat establishes Lark Canyon Unit 2 as a 14.619-acre, 63-lot subdivision with 60 buildable lots. It identifies Meritage Homes of Texas LLC as the owner and describes the proposed use as single-family residential.
The continuation certificate identifies Meritage Homes as the bond principal, Nationwide Mutual Insurance Co. as the surety and Comal County as the obligee. It says liability during the original and extended terms would not be cumulative or exceed the stated ceiling.