Title
Transportation Department recommending that the Board consider recommendations regarding Promontory Village 6 Phase 2-B, as follows:
1) Accept as substantially complete the subdivision improvements for Promontory Village 6 Phase 2-B;
2) Release the bonds held to secure On-Site Improvements identified as
Performance Bond No. 104294574 in the amount of $1,816,064, Laborer and Materialmens Bond No. 104294574 in the amount of $908,032, and Maintenance Bond No. 104294574 in the amount of $181,606.40; and
3) Release the bonds held to secure Off-Site Improvements identified as
Performance Bond No. 104294575 in the amount of $291,866, Laborer and Materialmens Bond No. 104294575 in the amount of $145,933, and Maintenance Bond No. 104294575 in the amount of $29,186.60.
FUNDING: Developer Funds
Body
BUDGET SUMMARY: N/A
Total Estimated Cost $
Funding
Budgeted $
New Funding $
Savings $
Other $
Total Funding Available $
Change To Net County Cost $
Fiscal Impact/Change to Net County Cost: There is no fiscal impact associated with this action.
Background: : The developer has completed the subdivision on-site and off-site improvements required, with the exception of Condition 1.c. Under the Conditions of Approval as adopted by the Board of Supervisors on October 20, 1998, Condition 1.c requires:
Intersection improvements, including traffic signals, shall be constructed at the intersection of El Dorado Hills Boulevard and Francisco Drive prior to creation of the 61 lots. If, at that time, the operational characteristics of said intersection have been modified to render this project’s impacts less than significant, as determined by the County Engineer, this requirement may be waived or modified. Supplemental traffic engineering reports may be required to support such waivers or modifications. (Note: Effectively implements mitigation measure 4.5.4).
Supplemental traffic engineering...
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