Title
Department of Transportation recommending the Board consider the following:
1) Accept the road improvements for the Green Valley Road Frontage Project, CG330261, as complete;
2) Reduce Performance Bond 070218627 from $522,000 to $52,200, 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 070218627 in the amount of $522,000 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 1)
FUNDING: Developer Funded.
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DISCUSSION / BACKGROUND
The EDH-Folsom Self Storage Project, S18-0012 / PD18-0002, also known as the Green Valley Road Frontage Project, CG330261 (Project) was approved by the Planning Commission on October 24, 2019. On December 6, 2024 (Legistar File 22-1985), the Board approved the Offsite Road Improvement Agreement (RIA) for the Project, #22-55030, with EDH Green Valley Holdings LLC (Developer). The RIA defined the obligations of the Developer for the performance of the work within the County Right of Way. The RIA set forth the terms and conditions for the construction of the offsite improvements and allowed the Developer to improve Green Valley Road between Shadowfax Lane and Sophia Parkway in accordance with approved plans.
The road improvements for the Project have been inspected by the Department of Transportation (Transportation) and were found to be complete in accordance with the approved plans, specifications and requirements of the RIA.
ALTERNATIVES
None; when the Owner/Developer completes all improvements and the County inspects and approves those improvements, the County is then obligated to approve reduction of the Bonds, if necessary...
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