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Council approves Wasatch West subdivision bond and one‑year warranty amount
Summary
The council approved Resolution 26‑36 accepting a subdivision bond agreement and a one‑year warranty amount staff will insert ($202,928.34); the broader bond package attachment references a total of about $593,202.61 to secure improvements.
Council reviewed a standard subdivision bond, the engineer’s associated cost breakdown and the one‑year warranty amount for the Wasatch West (Valley Vista) development.
Staff and Jones & Associates will verify line‑item amounts; Gary said the warranty figure should be explicitly inserted at the top of the document. "Amount of the 1 year warranty of $202,928.34 in at the top," a staff member said during the meeting.
Council moved, seconded and approved Resolution 26‑36 to accept the bond agreement and to authorize staff to insert the warranty figure into the final document before recordation. The packet also cites a larger bond figure in the attachments (discussed in the meeting as roughly $593,202.61) to cover improvements and engineer‑recommended contingencies.
Staff said Jones & Associates double‑checks developer engineer cost estimates and will confirm the final amounts before closing the agreement.
