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File #: 13-0202    Version:
Type: Agenda Item Status: Approved
File created: 2/20/2013 In control: Board of Supervisors
On agenda: 11/4/2014 Final action: 11/4/2014
Title: Community Development Agency, Transportation Division, recommending the Board consider the following: 1) Accept the subdivision improvements for West Valley Village, Unit 6A as complete; 2) Reduce Performance Bond Rider No. 94-89-05 from $1,843,847.10 to $459,483.22, which is 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 year if no claims are made; 3) Hold Laborers and Materialmens Bond Rider No. 94-89-05 in the amount of $2,297,416.06 for six months to guarantee payment 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 Funds.
Attachments: 1. 2A - Certificate of Completion 11-04-14, 2. A - Approved CRS 2-4-14, 3. B - Amendment #2 2-4-14, 4. C - FE AGMT 07-1457 - Unit 6A - Amend 1 2-4-14, 5. D - FE AGMT 07-1457 Unit 6A - Orig Agmt 2-4-14, 6. E - LandSource LLC Request for Extension 2-4-14, 7. F - 12-27-11 County Counsel Letter 2-4-14, 8. G - Jan 29 2013 Board Meeting Minutes 2-4-14, 9. H - Replacement Bond Rider 2-4-14, 10. Executed Second Amendment to Agreement.pdf, 11. Approved CRS Third Amend. Item 5.pdf, 12. Executed Third Agreement item 5.pdf
Title
Community Development Agency, Transportation Division, recommending the Board consider the following:
1) Accept the subdivision improvements for West Valley Village, Unit 6A as complete;
2) Reduce Performance Bond Rider No. 94-89-05 from $1,843,847.10 to $459,483.22, which is 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 year if no claims are made;
3) Hold Laborers and Materialmens Bond Rider No. 94-89-05 in the amount of $2,297,416.06 for six months to guarantee payment 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 Funds.
Body
Fiscal Impact/Change to Net County Cost
The requested Board action has no associated fiscal impact or Net County Cost.

Reason for Recommendation
The Subdivision Improvements within West Valley Village, Unit 6A have been constructed and completed according to the plans and specifications for this development, and per the conditions of the Agreement to Make Subdivision Improvements to Class I Subdivisions between the County and LandSource Holding Company, LLC (Owner), dated August 14, 2007 as amended.

Clerk of the Board Follow Up Actions
1) The Clerk of the Board will reduce the Performance Bond to $459,483.22 and advise the Owner it has been reduced.
2) The Clerk of the Board will hold the Laborers & Materialmens Bond Rider No. 94-89-05 in the amount of $2,297,416.06 for six months. If no claims have been filed, the Transportation Division will request in writing that the Clerk of the Board release Bond Rider No. 94-89-05.
3) The Transportation Division will perform a one-year maintenance inspection and require owner to repair deficiencies noted (if any), in accordance with the terms of the Agreement.
4) The Transportation Division will submit a written reque...

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