RECOMMENDATION(S):
ADOPT Resolution No. 2015/112 accepting completion of the warranty period for the Subdivision Agreement (Right-of-Way Landscaping) and release of cash deposit for faithful performance, for subdivision SD04-08700, for a project developed by Shapell Homes, a Division of Shapell Industries, Inc., a Delaware Corporation, San Ramon (Dougherty Valley) area.
FISCAL IMPACT:
The funds to be released are developer fees that have been held on deposit. (100% Developer Fees)
BACKGROUND:
The landscape 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 the cash deposit, the Subdivision Agreement (Right-of-Way Landscaping) and performance/maintenance surety bond will not be exonerated, and the billing account will not be liquidated and closed.
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