Make us your home page
Instagram

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

Brooksville may get $2.6 million in lawsuit settlement

BROOKSVILLE — Brooksville may receive more than $2.6 million in a settlement of court cases dealing with the Southern Hills Plantation development.

The City Council on Monday will consider approving a $3.5 million settlement in suits against two surety bond companies. The deal, if approved, will net the city about $2,625,000 after attorney costs.

The case stems from an effort last year by the city to foreclose on about $20 million in performance bonds from Travelers Casualty and Surety Company of America and Chubb Group Insurance Cos. The bonds were issued in 2003 to LandMar Developers for infrastructure at Southern Hills.

When LandMar filed for bankruptcy in 2008, the city was forced to go after the bond companies to complete work in the second and third phase of the subdivision, including the construction of a reclaimed water plant.

Lawyers representing the two bond companies, along with attorneys from LandMar's parent company, Duke Energy Corp., met city attorneys in March to begin settlement negotiations. In April, the council met in executive session to approve a tentative deal.

Under an agreement with the council last year that allowed it to act as a contract agent for the city, the Hogan Law Firm is set to earn $850,000 — or 25 percent — of the total being collected from the companies.

Council member Emory Pierce said he considers the settlement a win-win for the city.

"Cash in hand is always worth more than a lawsuit," Pierce said. "It's not what we wanted, but it's going to go a long way toward getting things done out there."

City Manager Jenenne Norman-Vacha said the council will have to decide where to appropriate the funds.

The settlement ends the last of four lawsuits the city had with surety bond companies connected with defunct developers.

In a mediated settlement last November, the city collected $251,191 from Bond Safeguard Co. Insurance toward completion of roads and sidewalks in the Cascades subdivision after its developer, Levitt & Sons, filed for bankruptcy. In addition, the bond company agreed to pay $20,000 in legal costs.

Tampa-based CaSHP Homes, which bought the 411-acre subdivision for $2.2 million in August, 2010, agreed to contribute another $30,000 toward the infrastructure.

Logan Neill can be reached at (352) 848-1435 or lneill@sptimes.com.

Brooksville may get $2.6 million in lawsuit settlement 06/02/11 [Last modified: Thursday, June 2, 2011 7:26pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. 'Free speech rally' cut short after massive counterprotest

    Nation

    BOSTON — Thousands of demonstrators chanting anti-Nazi slogans converged Saturday on downtown Boston in a boisterous repudiation of white nationalism, dwarfing a small group of conservatives who cut short their planned "free speech rally" a week after a gathering of hate groups led to bloodshed in Virginia.

    Thousands of people march against a “free speech rally” planned Saturday in Boston. About 40,000 people were in attendance.
  2. Police pull unconscious New Port Richey man from SUV in Cotee River

    Accidents

    NEW PORT RICHEY — Police rescued an unconscious driver whose sport utility vehicle plunged into the Cotee River on Saturday.

  3. Analysis: Bannon is out, but his agenda may live on

    Politics

    WASHINGTON — In his West Wing office, Stephen Bannon kept a chart listing trade actions — on China, steel and autos — that the Trump White House planned to roll out, week by week, through the fall. Now that Bannon, the president's chief strategist, has been pushed out, the question is whether his …

    Steve Bannon thinks he could be more effective influencing policy from outside the White House.
  4. Trump to skip Kennedy Center Honors awards program

    Politics

    BRIDGEWATER, N.J. — Acknowledging that he has become a "political distraction," President Donald Trump has decided to skip the festivities surrounding the annual Kennedy Center Honors arts awards later this year, the White House announced Saturday amid the continuing fallout over Trump's stance on last weekend's …

  5. Bucs' annual Women of RED preseason party attracts nearly 2,000

    Bucs

    TAMPA — Theresa Jones is primarily a college football fan, but she wanted to get a taste of the Bucs. So the 46-year-old Tampa resident bought a ticket for the team's Women of RED Ultimate Football Party at Raymond James Stadium on Friday.

    Lee White of Seminole tries on a helmet at Raymond James Stadium in Tampa, Fla. on Friday, August 18, 2017.

Tampa Bay Buccaneers female fans descended upon Raymond James Stadium for the ultimate football party, the 2017 Women of RED: The Takeover, supported by Moffitt Cancer Center. CHARLIE KAIJO   |   Times