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Department of Transportation recommending the Board consider the following:
1) Accept the offsite road improvements for The Crossings at El Dorado, Missouri Flat Road, and Crossings Road as complete;
2) Reduce Performance Bond 800046695 from $2,579,474.32 to $257,947.43, 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 800046695 in the amount of $2,579,474.32 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 3)
FUNDING: Developer Funded (4.1%), Missouri Flat Master Circulation and Financing Plan (MC&FP) (81.6%), Traffic Impact Fee (TIF) Program (14.3%).
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DISCUSSION / BACKGROUND
The Crossings at El Dorado Project (Project), formerly Sundance Plaza, was approved in 1998 includes an approved Development Plan (PD97-0011), a rezone (Z97-22), an approved tentative map (P97-0017), and a now-expired Development Agreement (DA98-0001). On August 30, 2022, Legistar File 22-1539, the Board approved the Offsite Road Improvement Agreement (RIA) #21-54981 for The Crossings at El Dorado, Missouri Flat Road, and Crossings Road (Agreement), between the County and the Developer, LLL & A, LLC (Developer). On August 27, 2024, Legistar File 24-1317, the Board approved the First Amendment to the RIA, extending the performance period to August 30, 2025.
The Project is located on Missouri Flat Road, in Placerville in the County of El Dorado, from approximately 380 feet North of Plaza Drive to approximately 525 feet North of Headington Road.
The road improvements for the Project have been inspected by the Department of Transportation (Transportation) and were found to ...
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