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File #: 13-0198    Version:
Type: Agenda Item Status: Approved
File created: 2/20/2013 In control: Board of Supervisors
On agenda: 12/9/2014 Final action: 12/9/2014
Title: Community Development Agency, Transportation Division, recommending the Board consider the following: 1) Accept the subdivision improvements for West Valley Village, Unit 3A as complete; 2) Reduce Performance Bond Rider No. 6547250 to $477,346, 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. 6547250 in the amount of $2,386,728.11 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. (No Federal Funds)
Attachments: 1. 2A - Certificate of Completion 12-09-14, 2. A - Approved CRS Amend II Unit 3A 5-13-14, 3. B - PE Amend II to AGMT 07-1459 Unit 3A 5-13-14, 4. C - FE AGMT 07-1459 Unit 3A - Amend I 5-13-14.pdf, 5. D - FE AGMT 07-1459 Unit 3A 5-13-14.pdf, 6. E - LandSource LLC Request for Extension 5-13-14.pdf, 7. F - County Counsel Letter dated 12-27-11 5-13-14.pdf, 8. G - Jan 29 2013 Board Meeting Minutes 5-13-14.pdf, 9. H - Assign & Assumption West Valley Village Unit 3 5-13-14, 10. Executed Second Amend item 13.pdf, 11. Executed Third Amend. Agrmt. item 13
Title
Community Development Agency, Transportation Division, recommending the Board consider the following:
1) Accept the subdivision improvements for West Valley Village, Unit 3A as complete;
2) Reduce Performance Bond Rider No. 6547250 to $477,346, 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. 6547250 in the amount of $2,386,728.11 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. (No Federal 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 3A have been 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, Standard Pacific Corp. (Owner) and LandSource Holding Company, LLC (Developer), dated August 14, 2007 as amended.

Clerk of the Board Follow Up Actions
1) The Clerk of the Board will reduce Performance Bond Rider No. 6547250 to $477,346 and advise the Developer it has been reduced.
2) The Clerk of the Board will hold the Laborers & Materialmens Bond Rider No. 6547250 in the amount of $2,386,728.11 for six months. If no claims have been filed, the Transportation Division will request in writing that the Clerk of the Board release said Bond.

Division Follow Up Actions
1) 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.
2) The Transporta...

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