Title
Department of Transportation recommending the Board approve and authorize the Clerk of the Board to reduce Performance Bond SU1197230 pertaining to Malcolm Dixon Road Estates - Phase 2, TM 05 1401, from $666,352.83 to $86,963.28, representing 100% of the total remaining improvements. This amount guarantees against any defective work, labor done, or defective materials furnished.
(District 4)
FUNDING: Developer Funded.
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DISCUSSION / BACKGROUND
On October 22, 2024 (Legistar file 24-1721), the Board approved the Agreement to Make Subdivision Improvements for Class 1 Subdivision Malcolm Dixon Road Estates - Phase 2, TM 05 1401 (SIA) between the County and Diamante Development, LLC (Owner).
Department of Transportation's (Transportation) construction inspection staff has inspected the work and confirms the subdivision improvements are substantially complete according to the plans and specifications for this development and per the conditions of the SIA. The Owner has requested the Performance Bond for the project be reduced commensurate with the work completed, and Transportation agrees the reduction is appropriate. While most work on the project has been completed, the installation of stormwater detention basins was deferred to the building permit stage for each lot in the subdivision. Until all basins have been installed per the subdivision improvement plans, the project must remain active and cannot be accepted as complete.
The current bond amount of $666,352.83 does not represent the total cost of the project's improvements, as some work was completed under a previous Subdivision Grading Agreement. Developers are required to bond only for improvements that have not yet been completed. The total amount for all improvements is $869,632.83. Exhibit B to the SIA, “Certificate of Partial Completion of Subdivision Improvements,” reflects the total project cost estimate, as well as notations of work already completed at the time the agreement was execu...
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