Title
Transportation Department recommending the following pertaining to Green Valley Station, LLC for the intersection at Green Valley Road and Cambridge Road:
(1) Accept constructed road improvements as complete;
(2) Reduce Performance Bond No. 2203799 by $322,094.64 to $35,788.30 to guarantee against defective work, labor done, or defective materials furnished and release one year after acceptance if conditions are met; and
(3) Hold Payment Bond No. 2203799 in the amount of $357,882.94 to guarantee payment to persons furnishing labor, materials or equipment and release in six months after acceptance if no claims are made.
RECOMMENDED ACTION: Approve.
FUNDING: Developer funds.
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BUDGET SUMMARY: N/A
Total Estimated Cost $
Funding
Budgeted $
New Funding $
Savings $
Other $
Total Funding Available $
Change To Net County Cost $
Fiscal Impact/Change to Net County Cost: This is a Developer funded-Developer built project. There is no fiscal impact and no County cost associated with this item.
Background: On December 5, 2006, the Board of Supervisors approved and authorized the Chairman to sign the Road Improvement Agreement (RIA), to provide road improvements at the intersection of Green Valley Road and Cambridge Road. The Developer of the Green Valley Station shopping center was required to enter into an improvement agreement with the County to make improvements to this intersection prior to occupancy of the commercial development.
Improvements to Green Valley Road included: widening to provide a right turn land for eastbound traffic from Green Valley Road onto the Green Valley Station development site; frontage improvements; additional road pavement sections necessary; appropriate traffic striping; concrete curb, gutter, and sidewalk; a westbound left turn lane at the driveway onto the site.
Improvements to Cambridge Road included: widening between the driveway onto the site a...
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