Title
Transportation Department recommending the following pertaining to Pioneer Place, Unit 4:
(1) Accept subdivision improvements as complete;
(2) Reduce Performance Bond No. 2135025 to $329,099.25 to guarantee against any defective work, labor done, or defective materials furnished and release one year after acceptance if no claims are made;
(3) Hold previously posted Laborers and Materialsmen Bond No. 2135025 in the amount of $2,193,995 to guarantee payment to person furnishing labor, materials or equipment and release six months after acceptance in no claims are made; and
(4) Adopt Resolution 070-2007 accepting streets within Pioneer Place Unit 4, subdivision map boundaries into the County Maintained Mileage System.
RECOMMENDED ACTION: Approve.
Body
BUDGET SUMMARY:
Total Estimated Cost $0
Funding
Budgeted $0
New Funding $0
Savings $0
Other $0
Total Funding Available $0
Change To Net County Cost $0
Fiscal Impact/Change to Net County Cost:
There is no immediate or short-term fiscal impact associated with this action. Long term, there will be some financial impact to the County, as future road maintenance costs will affect the Department's Budget.
Reason for Recommendation:
The subdivision improvements for Pioneer Place, Unit 4 have been substantially completed according to the plans, specifications and conditions of the Agreement to Make Subdivision Improvements for Class I Subdivisions Between the County and Owner dated January 6, 2004.
The streets within Pioneer Place, Unit 4 as shown in Book J, Page 17 of the County Final Maps are to be accepted by Resolution into the County's Maintained Mileage System.
The Performance Bond No. 2135025 for $2,193,995.00 is being reduced by $329,099.25 to $1,864,895.75. This reduced balance is 15% of the total improvements and is held to guarantee against any defective work, labor done or defective materials furnished, as well as ...
Click here for full text