RECOMMENDATION(S):
ADOPT Resolution No. 2012/14 accepting completion of warranty period and release of cash deposit for faithful performance, subdivision SD 03-08710, as recommended by the Public Works Director, Discovery Bay area. (District III)
FISCAL IMPACT:
No fiscal impact to County Funds. The funds to be released are developer fees that have been held on deposit pending completion of the warranty period.
BACKGROUND:
The improvements have met the guarantee performance standards for the warranty period following completion and acceptance of improvements.
CONSEQUENCE OF NEGATIVE ACTION:
The developer will not receive a refund of their cash deposit, the Subdivision Improvement Agreement and performance/maintenance surety bond will not be exonerated, and the billing account will not be liquidated and closed.
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