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Transportation Department recommending the following pertaining to Pioneer Place, Unit 4:
(1) Accept subdivision improvements as complete;
(2) Reduce Performance Bond No. 2135025 to $329,099.25 to guarantee against any defective work, labor done, or defective materials furnished and release one year after acceptance if no claims are made;
(3) Hold previously posted Laborers and Materialsmen Bond No. 2135025 in the amount of $2,193,995 to guarantee payment to person furnishing labor, materials or equipment and release six months after acceptance in no claims are made; and
(4) Adopt Resolution 070-2007 accepting streets within Pioneer Place Unit 4, subdivision map boundaries into the County Maintained Mileage System.
RECOMMENDED ACTION: Approve.
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Fiscal Impact/Change to Net County Cost:
There is no immediate or short-term fiscal impact associated with this action. Long term, there will be some financial impact to the County, as future road maintenance costs will affect the Department's Budget.
Reason for Recommendation:
The subdivision improvements for Pioneer Place, Unit 4 have been substantially completed according to the plans, specifications and conditions of the Agreement to Make Subdivision Improvements for Class I Subdivisions Between the County and Owner dated January 6, 2004.
The streets within Pioneer Place, Unit 4 as shown in Book J, Page 17 of the County Final Maps are to be accepted by Resolution into the County's Maintained Mileage System.
The Performance Bond No. 2135025 for $2,193,995.00 is being reduced by $329,099.25 to $1,864,895.75. This reduced balance is 15% of the total improvements and is held to guarantee against any defective work, labor done or defective materials furnished, as well as to to guarantee the completion of the minor grading for the future pedestrian path at or about Station 291 + 50 which will be completed during the warranty period.
Laborer and Materialmens Bond No. 2135025 for $2,193,995.00 guarantees payment to persons furnishing labor, materials or equipment. If there are no claims made, the Department will notify the Board Clerk to release this bond six months after acceptance.
Action to be taken following Board approval:
1. The Chairman will sign the Resolution.
2. The Clerk of the Board will:
a. Reduce Performance Bond No. 2135025 to $329,099.25.
b. Hold Laborer and Materialmens Bond No. 2135025 in the amount of $2,193,995.00.
3. The Department will request the Clerk of the Board release the respective bonds after the required time period, if listed conditions are met.
Contact:
Richard W. Shepard, P.E.
Director of Transportation
Concurrences: