Title
Department of Transportation recommending the Board consider the following:
1) Accept the road improvements for Saratoga Way, TM 14-1520 (Saratoga Estates), as complete;
2) Reduce Performance Bond 30039948 from $8,307,651.76 to $830,765.18, which is ten percent of the total cost of the road improvements. This amount guarantees against any defective work, labor done, or defective materials furnished, and is to be released after one year if no claims are made;
3) Hold Laborers & Materialmens Bond 30039948 in the amount of $8,307,651.76 for six 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 upon written request by the Department.
FUNDING: Developer Funded.
Body
DISCUSSION / BACKGROUND
On May 15, 2018 (Item 14), the Board approved the Offsite Road Improvement Agreement (RIA) for Saratoga Way (Project), AGMT 18-54843, with Elliott Homes, Inc. (Developer). The RIA defined the obligations of the Developer for the performance of the work within the County Right of Way. The RIA set forth the terms and conditions for the construction of the off-site improvements and allowed the Developer to construct Saratoga Way, in accordance with approved plans, from the intersection of the existing Saratoga Way to the point of connection with Iron Point Road in the City of Folsom.
The road improvements for the Project have been inspected by the Department of Transportation (Transportation) and were found to be complete in accordance with the approved plans, specifications and requirements of the RIA.
ALTERNATIVES
None; when the Owner/Developer completes all improvements and the County inspects and approves those improvements, the County is then obligated to approve reduction of the Bonds, if necessary, and initiate the warranty period.
PRIOR BOARD ACTION
Outlined in the Discussion / Background section above.
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
The requested Board action has no associated fiscal impact or change to Net County Cost.
CLERK OF THE BOARD FOLLOW UP ACTIONS
1) The Clerk of the Board will reduce Performance Bond 30039948 from $8,307,651.76 to $830,765.18 and advise Transportation (Julie Millard) and the Bonded Owner, Elliott Homes, Inc., Attn: Price Walker, 340 Palladio Parkway, Suite 521, Folsom, California 95630-8775, that it has been reduced.
2) The Clerk of the Board will hold Laborers & Materialmens Bond 30039948 in the amount of $8,307,651.76 for six (6) months. If no claims have been filed, Transportation will request in writing that the Clerk of the Board release said Bond.
STRATEGIC PLAN COMPONENT
Infrastructure improvements are a vital component in the County's ability to accommodate economic growth and provide safe roads for the residents of El Dorado County and the traveling public.
CONTACT
Rafael Martinez, Director
Department of Transportation