Board releases performance bonds for Willow phases 1 and 2 and accepts two-year maintenance bonds
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Summary
The board approved release of performance bonds for Willow phases 1 and 2 and accepted two-year maintenance bonds; the transcript does not clearly record bond dollar amounts.
The Board of Public Works and Safety on July 23 approved release of performance bonds for Willow Phase 1 and Phase 2 and accepted two-year maintenance bonds for both phases.
Greg presented the item and indicated the bonds and maintenance guarantees were in order. The transcript includes garbled numeric values for the bond amounts, so the exact dollar figures were not clearly recorded.
Following a motion and second, the board approved the releases and acceptances by voice vote.
Why it matters: releasing performance bonds and accepting maintenance bonds signals the city’s acceptance of completed public improvements and shifts responsibility to a shorter maintenance period, typically used to ensure any construction defects are corrected.
Ending: staff will follow standard procedures to issue the bond releases and record the accepted maintenance bonds.