Title
Department of Transportation recommending the Board consider the following:
1) Accept the subdivision improvements for Saratoga Estates Village 1B, TM14-1520, as complete;
2) Reduce Performance Bond 30070829 from $1,610,660.55 to $161,066.06, which is ten percent of the total cost of the subdivision improvements, an amount which 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 30070829 in the amount of $805,330.28 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.
FUNDING: Developer Funded.
Body
DISCUSSION / BACKGROUND
On February 25, 2020 (Item 27, Legistar 20-0256), the Board approved the Final Map and the Agreement to Make Subdivision Improvements for Saratoga Estates Village 1B (SIA), between the County and Elliott Homes, Inc. (Owner).
The subdivision improvements for the Saratoga Estates Village 1B, TM14-1520, project have been completed according to the plans and specifications for this development and per the conditions of the SIA. Department of Transportation (Transportation) construction inspection staff has inspected the work and confirms the subdivision improvements are complete.
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, and initiate the warranty period.
PRIOR BOARD ACTION
Outlined in the Discussion / Background section above.
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
The requested Board action has no associated fiscal impact or change to Net County Cost.
CLERK OF THE BOARD FOLLOW UP...
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