Insurance_Requirements_25-P-73MC_Affordable_Housing_Development_for_Community_Assistance.pdf

This document details the Required Types and Limits of Insurance for a County of Volusia affordable housing development project, specifically outlining comprehensive insurance requirements for a contractor. The insurance specifications cover multiple insurance types including Workers Compensation (with Florida Statutory Coverage), Commercial General Liability, Auto Liability, Professional Liability, and Builder's Risk insurance. The document mandates specific coverage limits, such as $1,000,000 for each occurrence in Commercial General Liability, $1,000,000 combined single limit for Auto Liability, and $1,000,000 for Professional Liability on both occurrence and aggregate basis.

The insurance requirements are part of a broader affordable housing initiative where the County of Volusia is donating county-owned land to a non-profit organization to construct affordable housing units. The project requires the developer to create housing units for households at or below 120% of the area median income, with at least 51% of units benefiting households at or below 80% AMI. The affordable housing project will be subject to 50-year affordability restrictions, with specific guidelines on rent limits, sales prices, and household income qualifications. The developer must ensure compliance with state and local codes, obtain necessary permits, meet building standards, and report periodic development status to the Community Assistance Division.