RECOMMENDATION(S):
ADOPT Resolution No. 2011/47 accepting completion of warranty period and release of cash deposit for faithful performance, for subdivision SD 02-08703, as recommended by the Public Works Director, Bay Point area. (District V)
FISCAL IMPACT:
No Fiscal Impact.
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 Agreement and performance/maintenance surety bond will not be exonerated, and the billing account will not be liquidated and closed.
CHILDREN'S IMPACT STATEMENT:
Not Applicable.
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