CONSTRUCTIONAPPROVED

Township of Georgian Bluffs Subdivision Agreement Georgian Villas Inc. April 2026

Georgian Bluffs Secures Subdivision Works with Developer LC

$3,680,138 letter of credit plus $10,000.00 depositTownship of Georgian BluffsGEORGIAN VILLAS INCApril 15, 2026

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Description

The Township of Georgian Bluffs executed a subdivision agreement with Georgian Villas Inc. requiring a $3,680,138 letter of credit and a $10,000 deposit to secure construction of subdivision works and cover Township legal and engineering costs. The securities remain in place until final acceptance of all services and may be reduced as construction progresses.

Contract Details

Contract Amount

$3,680,138 letter of credit plus $10,000.00 deposit

Vendor

GEORGIAN VILLAS INC

Agency

Township of Georgian Bluffs, Canada

Contract Type

CONSTRUCTION

Document Date

April 15, 2026

Contract Term

From registration of the subdivision agreement until issuance of Certificate of Final Acceptance and release of securities

Renewal Info

Security is to remain until Certificate of Final Acceptance is issued; letter of credit must auto-renew annually unless 60 days’ notice of non‑renewal is given, in which case replacement security is required 20 days before expiry.