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Community Development Services, Transportation Department, recommending the Board consider the following:
1) Accept the subdivision improvements for West Valley Village, Lot 6 & 7, Unit 1, as complete;
2) Reduce Performance Bond with Rider (Bond 0625706) to $679,179.34, which represents ten percent (10%) of the total cost of the subdivision improvements. This amount guarantees against any defective work, labor done, or defective materials furnished, which is to be released after one (1) year if no claims are made;
3) Hold Laborers & Materialmens Bond 0625706 in the amount of $3,395,896.72 for six (6) 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
Department of Transportation (Transportation) is recommending the Board accept the subdivision improvements for West Valley Village, Lot 6 & 7, Unit 1, as complete, reduce Performance Bond with Rider (Bond 0625706) to $679,179.34, representing ten percent of the revised total project cost estimate, for a warranty period of one (1) year, and hold Laborers & Materialmens Bond 0625706 in the amount of $3,395,896.72 for six (6) months. Transportation Construction Inspection staff has inspected the work and confirms the subdivision improvements are complete.
This recommendation begins the process of releasing the bonds covering this subdivision improvements project.
DISCUSSION / BACKGROUND
The Board approved the Final Map and the Agreement to Make Subdivision Improvements for Class 1 Subdivision between County and Owner (Agreement), Lennar Homes of California, Inc., a California Corporation company, for West Valley Village, Lot 6 & 7, Unit 1, on February 24, 2014 (Item 11).
The subdivision improvements within West Valley Village, Lot 6 & 7, Unit 1, have been completed according to the plans and specifications for...
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