CONSTRUCTIONAPPROVED

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

Georgian Bluffs OKs subdivision deal with Georgian Villas

$3,680,138 letter of credit plus $10,000 legal/professional deposit (securities equal to 110% of estimated works cost)Township of Georgian BluffsGEORGIAN VILLAS INCApril 15, 2026

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Description

The Township of Georgian Bluffs approved and executed a subdivision agreement with Georgian Villas Inc. for Phase 3 – The Dell, requiring the developer to construct and maintain all subdivision services. The agreement includes a $3.68 million letter of credit and a $10,000 deposit to secure municipal works and cover Township legal and engineering costs until final acceptance.

Contract Details

Contract Amount

$3,680,138 letter of credit plus $10,000 legal/professional deposit (securities equal to 110% of estimated works cost)

Vendor

GEORGIAN VILLAS INC

Agency

Township of Georgian Bluffs, Canada

Contract Type

CONSTRUCTION

Document Date

April 15, 2026

Contract Term

From April 15, 2026 until issuance of Certificate of Maintenance and Final Acceptance and release of securities

Renewal Info

Security remains in effect until the Certificate of Final Acceptance is issued; the letter of credit must auto-renew annually unless replaced and may be reduced as works are certified complete, but not below defined thresholds. Agreement may be declared null and void if the plan is not registered within three years, with deposits and security forfeited.