RECOMMENDATION(S):
ADOPT Resolution No. 2011/479 for approving Reduction of Performance Bond Amount for the subdivision agreement for project being developed by ADP Freedom 7, El Sobrante area. (District I)
FISCAL IMPACT:
No fiscal impact.
BACKGROUND:
Due to economic conditions, developer has requested reduction of bond amount for improvements that have been installed but not yet accepted as complete.
CONSEQUENCE OF NEGATIVE ACTION:
Bond amount reduction will not be approved.
CHILDREN'S IMPACT STATEMENT:
Not applicable.
|