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Transportation Department recommending the following pertaining to Green Valley Station, LLC for the intersection at Green Valley Road and Cambridge Road:
(1) Accept constructed road improvements as complete;
(2) Reduce Performance Bond No. 2203799 by $322,094.64 to $35,788.30 to guarantee against defective work, labor done, or defective materials furnished and release one year after acceptance if conditions are met; and
(3) Hold Payment Bond No. 2203799 in the amount of $357,882.94 to guarantee payment to persons furnishing labor, materials or equipment and release in six months after acceptance if no claims are made.
RECOMMENDED ACTION: Approve.
FUNDING: Developer funds.
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Fiscal Impact/Change to Net County Cost: This is a Developer funded-Developer built project. There is no fiscal impact and no County cost associated with this item.
Background: On December 5, 2006, the Board of Supervisors approved and authorized the Chairman to sign the Road Improvement Agreement (RIA), to provide road improvements at the intersection of Green Valley Road and Cambridge Road. The Developer of the Green Valley Station shopping center was required to enter into an improvement agreement with the County to make improvements to this intersection prior to occupancy of the commercial development.
Improvements to Green Valley Road included: widening to provide a right turn land for eastbound traffic from Green Valley Road onto the Green Valley Station development site; frontage improvements; additional road pavement sections necessary; appropriate traffic striping; concrete curb, gutter, and sidewalk; a westbound left turn lane at the driveway onto the site.
Improvements to Cambridge Road included: widening between the driveway onto the site and the intersection of Green Valley Road for a northbound right turn from Cambridge onto Green Valley Road; frontage improvements; relocation of southeast curb return including some traffic signal facilities; additional road pavement sections necessary; appropriate traffic striping; concrete curb, gutter and sidewalk.
Reason for Recommendation: The road improvements for the project were substantially completed as of December 12, 2007 per the approved plans and specifications, the requirements of the stated Road Improvement Agreement, and the Conditions of Approval for Planned Development PD05-0004, known as Green Valley Station.
Performance Bond No. 2203799, in the amount of $357,882.94 is therefore being reduced by $322,094.64 to $35,788.29, which is 10% of the bonded amount. This amount is held one year to guarantee against any defective work, labor done, or defective materials furnished.
Payment Bond No. 2203799, for $357,882.94 continues to be held for the full amount for a period of six months to guarantee payment to persons furnishing labor, materials or equipment.
Action to be taken following Board approval:
1. The Clerk of the Board will reduce Performance Bond No. 2203799 to $35,788.29.
2. The Department will request that the Clerk of the Board release Payment Bond No. 2203799 after a period of six months, and release Performance Bond No. 2203799 after a period of one year, if listed conditions are met.
Contact:
Richard W. Shepard, P.E.
Director of Transportation
Concurrences: