Title
Transportation Department recommending the following pertaining to Lakehills Community Covenant Church:
(1) Accept as complete the constructed improvements;
(2) Reduce the Performance Bond No.104840806 from $365,676.08 to $36,567.61, which is 10% of the total cost of improvements to guarantee against defective work, labor done, or defective materials furnished and release after one year if no claims are made; and
(3) Hold Labor and Materialmens Bond No. 104840806 in the amount of $551,757.69 to guarantee payment to persons furnishing labor, materials, or equipment and release in six months if no claims are made.
RECOMMENDED ACTION: Approve.
FUNDING: Developer Funds.
Body
BUDGET SUMMARY: N/A
Total Estimated Cost $
Funding
Budgeted $
New Funding $
Savings $
Other $
Total Funding Available $
Change To Net County Cost $
Fiscal Impact/Change to Net County Cost: NONE
Background: Under the Conditions as approved by the Planning Commission on September 22, 2005 concerning Lakehills Community Covenant Church P03-0015/PD03-0007, the Developer was required to enter into an Improvement Agreement with the County and provide security to guarantee performance of those improvements. On January 9, 2007, the Board of Supervisors approved Parcel Map Improvements Agreement #06-1157 with the Lakehills Community Covenant Church.
RECOMMENDED ACTIONS:
1. Accept as complete, the constructed improvements concerning the Lakehills Community Covenant Church project.
2. Authorize the Clerk of the Board to reduce Performance Bond No. 104840806 from $365,676.08 to $36,567.61. The reduced amount, which is 10% of the total cost of improvements, is held to guarantee against defective work, labor done or defective materials furnished Also, authorize the Clerk of the Board to release reduced Performance Bond No. 104840806 in one year if there are no defects found or warranty claims made.
3. Direct that La...
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