Special Commission Meeting Agenda Item

Martin DelleBovi of the Benchmark Group has requested to come before the Town Commission to provide an update on the status of various activities within the Town of Lady Lake.

At present, there exists a “paper street”, an unimproved platted right-of-way, which would provide for a connection from Highway 27/441 to Griffin Avenue, adjacent and to the west of the Lady Lake Square Development via Old Vineyard Road.  Mr. DelleBovi has discussed the concept with Town Staff, as well as the Lake County Public Works Department, and is now seeking direction from the Town Commission regarding the alignment and whether to proceed with the connection.

Mr. DelleBovi and the Benchmark Group, in partnership with the Town, has recently extended sewer utility to the southwest corner of the intersection of Griffin Avenue and County Road 25 (Teague Trail). Final documents are being prepared for the conveyance of the utility to the Town of Lady Lake.  Mr. DelleBovi will provide an update regarding the forecasted transfer of the improvements.

On February 2, 2022, The Town of Lady Lake issued a development order for the Lady Lake Square Apartments which is valid until February 2, 2023.  The builders who initially partnered with the Benchmark Group to construct the 288-unit apartment complex are no longer involved in the project.  Mr. DelleBovi is working to secure a new partner to build the complex and is very confident the project will commence in the very near future.  However, to allow additional time to go under contract with a new builder, Benchmark is requesting a one-year extension of the development order.  Although Mr. DelleBovi does not foresee that a year is warranted to bring the project to fruition, by providing an extension of one-year to the development order, lenders and builders will have the assurance to rely upon that the project has all valid entitlements to proceed in the Town of Lady Lake.