Title
Department of Transportation recommending the following pertaining to Parcel Map Improvement Agreement AGMT No. 08-52577 concerning improvements as described in Lee Parcel Map P06-0017:
1) Accept the constructed improvements as substantially complete;
2) Reduce Performance Bond No. 4371243 to $14,053.61, which is ten percent of the total cost of improvements to guarantee against defective work, labor done or defective materials furnished and release after one year if no claims are made; and
3) Hold Laborers and Materialsmen Bond No. 4371243 in the amount of $70,268.03 to guarantee payment to persons furnishing labor, materials or equipment and release in six months if no claims are filed.
FUNDING: Developer funds - United Property & Investment, LLC.
Body
Fiscal Impact/Change to Net County Cost: There is no fiscal impact to the General Fund associated with this item.
Background:
On March 25, 2008, the Board of Supervisors conditionally approved Tentative Parcel Map P06-0017. Subsequently, on April 21, 2009, the Board of Supervisors approved the Parcel Map Improvement Agreement (PMIA) for the subject improvements to Lakehills Drive and Lakehills Court in El Dorado Hills.
Reason for Recommendation:
The improvements were inspected and found to be complete according to the approved plans and specifications for the project. The Department of Transportation (Department) has determined that the requirements of the PMIA have been met.
The total cost of the improvements approved by the County Engineer was $140,536.06 and Performance Bond No. 4371243 was accepted with the PMIA. The Department is requesting the Board reduce this amount to $14,053.61, which is ten percent (10%) of the total cost of the improvements. The Bond in the reduced amount will be held for one year to guarantee against any claims that may arise from defective work, labor done or defective materials furnished.
The Department is also requesting that Labor and Materialsmen (L&M) Bond No. 43...
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