Title
Transportation Department recommending the following pertaining to Long View Estates, Unit 3 Subdivision:
(1) Accept the subdivision improvements as complete;
(2) Adopt Resolution accepting the streets into the County Maintained Mileage System;
(3) Release Performance Bond No.104065533 in the amount of $1,029,086 to VCO, LLP, a California Limited Partnership; and
(4) Release Laborer and Materialsmen Bond No. 104065533 in the amount of $514,543 to VCO, LLP, a California Limited Partnership.
RECOMMENDED ACTION: Approve and adopt Resolution 095-2007.
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 Long View Estates have been substantially completed according to the plans, specifications and conditions of the Agreement to Make Subdivision Improvements to Class I Subdivisions Between the County and Owner dated July 20, 2004.
The recent repair of minor deficiency items and the receipt of various requisite project documentation has made it possible for the Department to proceed with recommending the Board's acceptance of this project. Given that the work on this project has been substantially completed for over one year and there have been no claims made against the Performance or Laborer and Materialmens Bonds, the Department also recommends releasing the full amount of these bonds to the owner, VCO, LP, a California Limited Partnership.
The streets within Long View Estates, Unit 3, as shown in Book J, Page 31 of the County Final Maps are ...
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