Title
Department of Transportation recommending the Board:
1) Accept the subdivision improvements for Alto LLC - Phase 1, TM 06-1408 / PD 06-0006, as complete;
2) Reduce Performance Bond LICX1214302 from $277,517.12 to $143,504.40, which is ten percent 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 year if no claims are made;
3) Hold Laborers & Materialmens Bond LICX1214302 in the amount of $717,522.00 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 Transportation.
(District 4)
FUNDING: Developer Funded.
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DISCUSSION / BACKGROUND
On August 16, 2022 (Legistar file 22-1321), the Board approved the Final Map and the Agreement to Make Subdivision Improvements for Alto LLC - Phase 1, TM 06-1408 / PD 06-0006 (SIA) between the County and Alto, LLC (Owner).
On February 27, 2024 (Legistar file 24-0228), the Board approved the reduction of Performance Bond LICX1214302 from $1,435,044.00 to $277,517.12 due to partial completion of the improvements included on the project’s approved plans. The Performance Bond is held at 10% of the total cost of improvements for the warranty period, thus the further reduction to $143,504.40 (based upon the total project cost of $1,435,044.00).
The subdivision improvements for the Alto LLC - Phase 1 project have been completed according to the plans and specifications for this development and per the conditions of the SIA. The Department of Transportation (Transportation) construction inspection staff has inspected the work and confirms the subdivision improvements are complete.
ALTERNATIVES
None; when the Owner/Developer completes all improvements and the County inspects and approves those improvements, the County is then obli...
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