Leesburg commissioners have approved a proportionate share mitigation agreement which requires the developer of the 391 single family homes in the proposed Lakewood Reserve development to pay $1.6 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.
Several thousand homes will be built in the Leesburg portion of The Villages and even though the 55+ developments do not directly contribute students, as those developments grow they spur housing needs for the people who work in The Villages and surrounding area.
In this case the school board has determined that existing school capacity is insufficient and that the Lakewood Reserve development should be expected to generate 39 high school students which are referred to in the resolution as the capacity deficit. The cost of each student station is estimated at $42,917 so 39 x $42917 = $1,673,763.
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 Lakewood Reserve development will be located east U.S. Hwy. 27 and south of Dewey Robbins Road. The Lakewood Reserve development is owned by TLC DR Holdings LLC, located in Orlando.