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File #: 13-0866    Version:
Type: Agenda Item Status: Approved
File created: 7/10/2013 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 5B-1 as complete; 2) Reduce Performance Bond No. SU 1123642 to $474,435, 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 No. SU 1123642 in the amount of $2,372,170.64 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. 3A - Certificate of Completion 12-9-14, 2. 2A - Approved CRS 3-25-14, 3. 2B - AGMT 14-53865 First Amd to AGMT 13-53732 3-25-14, 4. 2C - Meritage Ltr 2-12-14 3-25-14, 5. executed agreement item 7.pdf
Title
Community Development Agency, Transportation Division, recommending the Board consider the following:
1) Accept the subdivision improvements for West Valley Village, Unit 5B-1 as complete;
2) Reduce Performance Bond No. SU 1123642 to $474,435, 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 No. SU 1123642 in the amount of $2,372,170.64 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
There is no fiscal impact and no change to Net County Cost.

Reason for Recommendation:
The Subdivision Improvements within West Valley Village, Unit 5B-1 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 and Meritage Homes of California, Inc. (Owner), dated November 5, 2013 as amended.

Clerk of the Board Follow Up Actions
1) The Clerk of the Board will reduce the Performance Bond No. SU 1123642 to $474,435 and advise the Owner it has been reduced.
2) The Clerk of the Board will hold the Laborers & Materialmens Bond No. SU 1123642 in the amount of $2,372,170.64 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 Transportation Division will submit a written request to the Clerk...

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