Title
Community Development Services, Department of Transportation, recommending the Board:
1) Accept the subdivision improvements for Serrano Village K5, Phase 2, Unit 4, TM 10-1496-R, as complete;
2) Reduce Performance Bond 0701845 from $176,900.10 to $149,117.10, which is ten percent 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 year if no claims are made;
3) Hold Laborers & Materialmens Bond 0701845 in the amount of $745,585.51 for six 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. (No Federal Funds)
Body
DEPARTMENT RECOMMENDATION
Community Development Services, Department of Transportation (Transportation), is recommending the Board accept the subdivision improvements for Serrano Village K5, Unit 4, TM 10-1496-R, as complete, reduce Performance Bond 0701845 to $149,117.10, and hold Laborers & Materialmens Bond 0701845 in the amount of $745,585.51 for six months.
Transportation's construction inspection staff has inspected the work and confirms the subdivision improvements are complete.
DISCUSSION / BACKGROUND
The Board approved the Final Map and the Agreement to Make Subdivision Improvements for Class 1 Subdivision between County, Owners and Subdivider, Serrano Associates, LLC, a Delaware Limited Liability Company (Owner and Subdivider) and Cal Atlantic Group, Inc., a Delaware corporation (Owner) for Serrano Village K5, Phase 2, Unit 4, on January 30, 2018 (Item 12).
The subdivision improvements have been completed according to the plans and specifications for this development and per the conditions of said Agreement to Make Subdivision Improvements.
ALTERNATIVES
None; when the Owner/Developer completes all improvements and the County inspects...
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