To: Board of Supervisors
From: Warren Lai, Public Works Director/Chief Engineer
Report Title: Amending Subdivision Agreement for subdivision SD21-09588, for a project being developed by Loreto Residential, LLC, Bay Point area.
☒Recommendation of the County Administrator ☐ Recommendation of Board Committee
RECOMMENDATIONS:
ADOPT Resolution amending the Subdivision Agreement for subdivision SD21-09588, for a project being developed by Loreto Residential, LLC, as recommended by the Public Works Director, Bay Point area. (District V)
FISCAL IMPACT:
No fiscal impact.
BACKGROUND:
The developer has made a revision to the plan set on file with Public Works, increasing the value of improvements being bonded for under its Subdivision Agreement.
CONSEQUENCE OF NEGATIVE ACTION:
The surety bond obligation will not be increased.
c: Jocelyn LaRocque-Engineering Services, Alex Vazquez-Engineering Services, Anthony DiSilvestre-Engineering Services, Paul Tehaney, Design/Construction,, Ciara Herrold-Finance, Dulce Reckmeyer-Walton-DCD, Loreto Residential, LLC
THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA
and for Special Districts, Agencies and Authorities Governed by the Board
body
IN THE MATTER OF: amending the Subdivision Agreement for subdivision SD21-09588, for a project being developed by Loreto Residential, LLC, as recommended by the Public Works Director, Bay Point area. (District V)
The following general surety rider to guarantee the road and drainage improvements as required by Title 9 of the County Ordinance Code was presented for Board approval on May 13, 2025.
Security with Loreto Residential, LLC as principal in the form of a corporate surety bond (Bond No. LICX1215683) dated January 29, 2025, and corporate surety bond rider (Bond No. LICX1215683) dated May 21, 2025, and issued by Lexon Insurance Company in the amount of $844,470.00 for faithful performance and $426,500.00 for labor and materials.
NOW, THEREFORE, BE IT RESOLVED that said Subdivision Agreement, approved by the Board of Supervisors on May 13, 2025, is hereby AMENDED to include the above-mentioned corporate surety bond and bond rider.
All deposit permits are on file with the Public Works Department.
end