24-1845
Department of Transportation recommending the Board: 1) Accept the subdivision improvements for Promontory Village 7 - Unit 1, TM 16-1530, as complete; 2) Reduce Performance Bond US00117346SU22A from $2,502,669.80 to $514,889.90, 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 US00117346SU22A in the amount of $2,574,449.50 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 upon written request by Transportation. (District 1) FUNDING: Developer Funded.
- Committee
- Board of Supervisors
- Requested by
- Transportation
- Introduced
- October 11, 2024
- On agenda
- November 12, 2024
- Passed
- November 12, 2024
Where it was heard
Board of SupervisorsWatch El Dorado County
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