https://eldorado.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=2807423&GUID=B2661ABE-EDF7-41A0-B4B7-73D036152AF0Legistar15https://eldorado.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=2807423&GUID=B2661ABE-EDF7-41A0-B4B7-73D036152AF0B2661ABE-EDF7-41A0-B4B7-73D036152AF0-2020-09-03-22-37-41Title: Community Development Agency, Transportation Division, recommending the Board: 1) Accept the subdivision improvements for Serrano Village M2 Phase 1, Unit 1, as complete; 2) Reduce Performance Bond 0638894 to $727,349.16, which is ten percent (10%) of the total cost of the subdivision improvements. This amount guarantees against any defective work, labor done, or defective materials furnished, which is to be released after one (1) year if no claims are made; 3) Hold Laborers & Materialmens Bond 0638894 in the amount of $3,636,745.79 for six (6) months to guarantee payments to persons furnishing labor, materials or equipment; and 4) Authorize the Clerk of the Board to release the respective bonds after the required time periods. FUNDING: Developer Funded. (No Federal Funds)Thu, 03 Sep 2020 22:37:41 GMT