Stalled negotiations on Covenant: UPDATE
Members of the Board and other interested residents of Lake Sarasota will meet today with representatives of TerraCap in a final effort to negotiate a neighborhood-friendly agreement addressing the concerns regarding safety, tranquility, and property values. The results will be reported here. === A conversation about a legally binding Covenant between Lake Sarasota residents and agents for TerraCap Mgmt. has not progressed since a June 12 meeting . The community has concerns about traffic, nuisance noise and odors, and damage to property values that could arise from mishandled development of the commercial land opposite the front entrance of the Lake S. community at Mauna Loa Blvd. and Bee Ridge Road. Agents for TerraCap , the Canadian owner of the Bee Ridge Park of Commerce who sold the front property to Racetrac, were approached in April about a Covenant, but ignored the Community's overture. After the developer's latest rezoning plan failed to receive County app...