RECOMMENDATION(S):
ADOPT Resolution No. 2012/56 accepting completion of warranty period and release of cash deposit under the Drainage Improvement Agreement for DG 05-00058 (cross-reference subdivision SD 05-08984), for project being developed by O’Brien at Pacheco, LLC, as recommended by the Public Works Director, Pacheco area. (District V)
FISCAL IMPACT:
No fiscal impact to County Funds. The funds to be released are developer fees that have been held on deposit.
BACKGROUND:
The drainage improvements have met the guarantee performance standards for the warranty period following completion and acceptance of the improvements.
CONSEQUENCE OF NEGATIVE ACTION:
The developer will not receive a refund of their cash deposit the Drainage Improvement Agreement and performance surety bond will not be exonerated, and the billing account will not be liquidated and closed.
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