Title
Department of Transportation recommending the following pertaining to the Walgreens at Cameron Park Drive Project:
1) Accept the constructed improvements at the intersection of Cameron Park Drive and Palmer Drive as complete;
2) Reduce Performance Bond No. 1034222 from $172,908.96 to $17,290.90 to guarantee against defective work, labor done or defective materials furnished and released after one year if no claims are made; and
3) Hold Laborers and Materialmens Bond No. 1034222 in the amount of $172,908.96 to guarantee payment to persons furnishing labor, materials or equipment and released in six months, if no claims are filed.
FUNDING: Developer, Interra-Vision (Cameron Park), LLC.
Body
Fiscal Impact/Change to Net County Cost
There is no cost to the County General Fund.
Background
On August 25, 2009, the Board of Supervisors approved Road Improvement Agreement (RIA) # AGMT 08-1655 between the County and Interra-Vision, LLC. Under the Findings/Conditions of Approval for the Walgreens at Cameron Park Drive Project (#PD06-0026/P87-011R), the Developer was required to improve the frontage along the east side of Cameron Park Drive, matching existing improvements along the north side of Palmer Drive. The roadway improvements included a right-turn lane; a new encroachment into the Project; an acceleration lane exiting the site; sidewalk; and re-striping.
Reason for Recommendation
The road improvements for the Project have been inspected by the Department of Transportation (Department) and were found to be complete in accordance with the approved plans, specifications and requirements of the aforementioned RIA. Therefore, the Department is recommending proceeding with the warranty period in accordance with Section 4 "Warranty" of the RIA for the Project with the following actions:
Reduce the Performance Bond No. 1034222 in the amount of $172,908.96 by 90%, which is $155,618.06, leaving a balance of $17,290.90. The 10% balance will be held for...
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