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Community Development Services, Transportation Department, recommending the Board consider the following:
1) Accept the subdivision improvements for West Valley Village, Lot 6 & 7, Unit 1, as complete;
2) Reduce Performance Bond with Rider (Bond 0625706) to $679,179.34, which represents ten percent (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 (1) year if no claims are made;
3) Hold Laborers & Materialmens Bond 0625706 in the amount of $3,395,896.72 for six (6) months to guarantee payments 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 Funded.
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DEPARTMENT RECOMMENDATION
Department of Transportation (Transportation) is recommending the Board accept the subdivision improvements for West Valley Village, Lot 6 & 7, Unit 1, as complete, reduce Performance Bond with Rider (Bond 0625706) to $679,179.34, representing ten percent of the revised total project cost estimate, for a warranty period of one (1) year, and hold Laborers & Materialmens Bond 0625706 in the amount of $3,395,896.72 for six (6) months. Transportation Construction Inspection staff has inspected the work and confirms the subdivision improvements are complete.
This recommendation begins the process of releasing the bonds covering this subdivision improvements project.
DISCUSSION / BACKGROUND
The Board approved the Final Map and the Agreement to Make Subdivision Improvements for Class 1 Subdivision between County and Owner (Agreement), Lennar Homes of California, Inc., a California Corporation company, for West Valley Village, Lot 6 & 7, Unit 1, on February 24, 2014 (Item 11).
The subdivision improvements within West Valley Village, Lot 6 & 7, Unit 1, have been completed according to the plans and specifications for this development and per the conditions of said Agreement.
ALTERNATIVES
None; when the Owner/Developer completes all improvements and the County Inspector approves of those improvements, the County is then obligated to approve reduction of the Bonds, if necessary, and initiate the warranty period.
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION
It is recommended that the Board approve this item.
FINANCIAL IMPACT
The requested Board action has no associated fiscal impact or Net County Cost.
CLERK OF THE BOARD FOLLOW UP ACTIONS
1) The Clerk of the Board will reduce the Performance Bond with Rider to $679,179.34 and advise the Owner (Lennar Homes of California, Inc., Attn.: Larry Gualco, 1420 Rocky Ridge Drive, Suite 320, Roseville, CA 95661) it has been reduced. Clerk will release the Performance Bond with Rider at the end of one year if no claims are made.
2) The Clerk of the Board will hold Laborers and Materialmens Bond 0625706 in the amount of $3,395,896.72 for six (6) months. If no claims have been filed, Transportation will request in writing that the Clerk of the Board release said Bond.
STRATEGIC PLAN COMPONENT
Infrastructure
CONTACT
Bard R. Lower, Interim Director
Department of Transportation
Community Development Services