A developer hoping to build a large subdivision in Leesburg will pay $2.2 million to help soften the impact the new homes will have on Lake County schools.
Leesburg commissioners have approved a proportionate share mitigation agreement which requires the developer of a 561-residence subdivision in the proposed Preservation Place development to pay $2.2 million to the Lake County School Board.
Lake County schools, including Leesburg High School, are filled to capacity due to the explosive development in Lake County.
In this case, the school board has determined that existing school capacity is insufficient and that the Preservation Place development should be expected to generate 64 high school students, which are referred to in the resolution as the “capacity deficit.” The cost of each student station is estimated at $34,862.
The developer will be required to pay the mitigation payment prior to the recording of each plat for each phase of the development or no more than 90 days after the city approves the final site plan.
The Preservation Place development will be located west of the Florida Turnpike and east of County Road 33.