Title
Department of Transportation recommending the Board approve and authorize the Chair to sign the First Amendment to Road Improvement Agreement 24-55069 for the Onsite and Offsite Road Improvements for Valley View Parkway, TM-14-1521, between the County and the Developer, Valley View Improvement Company, LLC, extending the performance period to April 23, 2027.
(District 2)
FUNDING: Developer Funded.
Body
DISCUSSION / BACKGROUND
On June 11, 2015 (Legistar file 15-0660 v1), the Planning Commission approved the East Ridge Villages Project, TM 14-1521 (Project). On April 23, 2024 (Legistar file 24-0554), the Board approved the Onsite and Offsite Road Improvement Agreement for Valley View Parkway, TM-14-152, Agreement #24-55069 (Agreement), between the County and Valley View Improvement Company, LLC (Developer).
Work contemplated in the Agreement includes an extension of Valley View Parkway extending southeast from the existing intersection with Blackstone Parkway along with certain onsite developments including approximately 600 ft. of the internal “A” Street eastward from its intersection with Valley View Parkway. The improvements are currently underway, with most work completed. However, additional time is needed to complete utility improvements and testing prior to project completion.
The proposed amendment extends the performance period for one year, to April 23, 2027, which will allow the Developer time to complete any remaining items and finalize the improvements. Transportation policies require a valid performance period at project completion.
ALTERNATIVES
N/A
PRIOR BOARD ACTION
See Discussion / Background section above.
OTHER DEPARTMENT / AGENCY INVOLVEMENT
County Counsel
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
The Developer will bear the initial cost of constructing the improvements in the proposed Agreement, which are reimbursable subject to the terms of a separate Acquisition & Development Agreement. Funding for the improvements will be provided by the Community Facilities District (CFD) 2023-1 “East Ridge Village,” which includes Valley View Parkway as a transportation improvement in its list of authorized facilities. The Developer has provided County satisfactory security for the improvements in the form of Performance and Laborers and Materialmens Bonds.
CLERK OF THE BOARD FOLLOW UP ACTIONS
1) The Clerk of the Board will obtain the Chair’s signature on two (2) originals of the Amendment.
2) The Clerk of the Board will return one (1) fully executed original Amendment to Department of Transportation, attn: Lindsay Tallman, for final processing.
STRATEGIC PLAN COMPONENT
Priority: N/A
Action Item: N/A
CONTACT
Rafael Martinez, Director
Department of Transportation