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Transportation Department recommending the following pertaining to West Valley, LLC:
(1) Accept as complete the traffic signal and road improvements located at White Rock Road and Valley View Parkway;
(2) Reduce Performance Bond No. 08821694 by $142,582.50 to $15,842.50 to guarantee against defective work, labor done or defective materials furnished and release after one year if no claims are made; and
(3) Hold Payment Bond No. 08821694 in the amount of $79,212.50 to guarantee payment to persons furnishing labor, materials or equipment and release in six months if no claims are made.
RECOMMENDED ACTION: Approve.
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Fiscal Impact/Change to Net County Cost:
Per Section 16 ACCEPTANCE of Road Improvement Agreement #AGMT 05-807, the County (Board of Supervisors) will accept the traffic signal and road improvements for maintenance upon completion of all the work and fulfillment of the conditions of the Agreement. Long-term there will be some financial impact to the County as future maintenance of the facilities will affect the Department's budget. Current estimated cost per signal is $5,000.00 annually. There is no cost to the County General Fund.
Background:
The Board of Supervisors approved Road Improvement Agreement #AGMT 05-807, between the County and West Valley, LLC on December 13, 2005.
Reason for Recommendation:
As of March 25, 2008, the road improvements as shown on the improvement plans for White Rock Road at Valley View Parkway (Crain & Associates) have been substantially completed according to the plans specifications for the project, the conditions of the development agreement dated December 13, 2005, and the conditions of the Valley View Specific Plan.
Performance Bond No. 08821694 in the amount of $158,425 is being reduced by $142,582.50 (which is 90%) leaving a balance of $15,842.50. The 10% balance is held one year to guarantee against any claims that may arise from defective work, labor done or defective materials furnished.
Payment Bond No. 08821694 in the amount of $79,212.50 will be held six months to guarantee payment to persons furnishing labor, materials or equipment.
Action to be taken following Board approval:
1. The Board Clerk will reduce Performance Bond No. 08821694 to $15,842.50.
2. The Deparment will request release of Payment Bond No. 08821694 in six months, and release of the balance of the Performance Bond in one year, if no claims or deficiencies arise during that time.
Contact: Richard W. Shepard, P.E.
Director of Transportation
Concurrences: