HomeMy WebLinkAbout2023-0410 Reduction of Faithful Performance BoCity of San Luis Obispo, Community Development, 919 Palm Street, San Luis Obispo, CA, 93401-3218, 805.781.7170, slocity.org
April 10, 2023
Dan Garson
735 Tank Farm Rd., Suite 100
San Luis Obispo, CA 93401
Sent via email to: dang@wchomes.com
Reduction of On-site Subdivision Improvements Faithful Performance Bond for:
Avila Ranch, Tract 3089 Phase 1, 175 Venture Dr, San Luis Obispo, CA 93401
To Whom it May Concern:
The $11,492,700.00 Faithful Performance bond from The Ohio Casualty Insurance Company, numbered
38K008752, dated July 22, 2021, is reduced to $1,723,905.00, 15% of the original value. This reduction is
based on progress of completion of the on-site subdivision improvements for Avila Ranch, Tract 3089
Phase 1, per Public Works inspection approvals.
The one-year warranty period has not started yet. The following items must be completed prior to
acceptance of the Phase 1 in-tract improvements and start of one-year warranty period:
· Punchlist items for Subdivision Phase 1 improvements, including Landscaping and Basin A.
o Director’s Action approval of Basin A modifications
· Survey monuments (street monumentation and property corners)
· Stormwater Control Plan O&M Manual
· Sewer lift station acceptance
· Conditions of Approval and Mitigation Measures matrices demonstrating completion and/or
compliance with obligations for Phase 1
For your information and planning purposes, the full bond may be exonerated with:
1) Public Works inspection approval that there are no remaining maintenance or warranty items
after the one-year warranty period;
2) Submittal, review, and approval of a post-construction landscape and restoration report per
MM BIO-2g; and,
3) Submittal, review, and approval of record drawings. Record drawings must include CAD files and
the record drawing submittal must incorporate field changes, RFIs, design revisions etc. from
both City inspection and City engineering redline plan sets.
Sincerely,
Nate Stong, PE
Acting Supervising Civil Engineer