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Community Development Services, Department of Transportation, recommending the Board consider the following:
1) Accept the off-site road improvements for Wilson Estates, TM 14-1515 as complete as of March 1, 2018;
2) Reduce Performance Bond SUR23100098 from $623,951.88 to $62,395.19, 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, which is to be released after one year if no claims are made;
3) Hold Laborers & Materialmens Bond SUR23100098 in the amount of $623,951.88 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.
FUNDING: Developer Funded.
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DEPARTMENT RECOMMENDATION
Community Development Services, Department of Transportation (Transportation) is recommending the Board accept the off-site road improvements for Wilson Estates, TM 14-1515 as complete as of March 1, 2018, reduce Performance Bond SUR23100098 from $623,951.88 to $62,395.19, which is ten percent of the total cost of the road improvements, hold Performance Bond SUR23100098 for a warranty period of one (1) year, and hold Laborers & Materialmens Bond SUR23100098 in the amount of $623,951.88 for six (6) months. Transportation Construction Inspection staff inspected the work in February 2018 and confirms the road improvements were complete at that time.
This recommendation begins the process of releasing the bonds covering this road improvements project.
DISCUSSION / BACKGROUND
On November 13, 2014 (Item 4), the Board approved the Wilson Estates subdivision project located on the north side of Green Valley Road in the El Dorado Hills area.
On May 17, 2016 (Item 27), the Board approved the Offsite Road Improvement Agreement for Wilson Estates, TM 14-1515, Agreement 16-54409, in order for Renasci Wilson Estates, LLC, as Develop...
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