HomeMy WebLinkAboutPM12100 15-220 Bond Reduction LtrPUBLIC WORKS DEPARTMENT
NICK FIDI.ER • DIRECTOR • CITY ENGINEER
March 18, 2016
Woodbridge Pacific Group
1518 Mill Rock Way, Suite 101
Bakersfield, California 93311
Attn: Alex Neuss
SUBJECT: Security Reduction for Parcel Map 12100 Wall Plans
Public Improvement Agreement No. PW15 -220
Dear Mr. Neuss:
The improvements for the above referenced tract are fifty percent (50 %) complete or
more and this has been confirmed by the City. In accordance with City policy and your
letter dated March 8, 2016 requesting the reduction of the Performance Bond, your
request has been approved. This letter is your authorization to reduce the posted security
amount to the following:
The Westchester Fire Insurance Company Performance Bond No. K0921768A, dated
November 17, 2015, in the amount of $1,135,236.00 may be reduced to $507,904 per your
request to secure payment to the contractor, his subcontractors and to persons renting
equipment or furnishing labor or materials to them for the work.
The Developer will maintain the Labor and Material Bond No. K0921768A ($567,618.00)
from Westchester Fire Insurance Company,
Should you have any questions regarding the above, please contact Michelle
Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By: / l N Man
Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LETTERS /2016/PM12100 WALLS BOND REDUCTION
1600 Truxtun Avenue www.bakersfieldcity.us Otto 4e
Bakersfield • Cali lonlia • 93301 w.
o �
(661)326-3724 u ^
Fax(661)852 -2120 a i
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PUBLIC WORKS DEPARTMENT
NICK FIDI.ER • DIRECTOR • CITY ENGINEER
March 18, 2016
Woodbridge Pacific Group
1518 Mill Rock Way, Suite 101
Bakersfield, California 93311
Attn: Alex Neuss
SUBJECT: Security Reduction for Parcel Map 12100 Wall Plans
Public Improvement Agreement No. PW15 -220
Dear Mr. Neuss:
The improvements for the above referenced tract are fifty percent (50 %) complete or
more and this has been confirmed by the City. In accordance with City policy and your
letter dated March 8, 2016 requesting the reduction of the Performance Bond, your
request has been approved. This letter is your authorization to reduce the posted security
amount to the following:
The Westchester Fire Insurance Company Performance Bond No. K0921768A, dated
November 17, 2015, in the amount of $1,135,236.00 may be reduced to $507,904 per your
request to secure payment to the contractor, his subcontractors and to persons renting
equipment or furnishing labor or materials to them for the work.
The Developer will maintain the Labor and Material Bond No. K0921768A ($567,618.00)
from Westchester Fire Insurance Company,
Should you have any questions regarding the above, please contact Michelle
Mendenhall at (661) 326 -3582.
Very Truly Yours,
Nick Fidler
City Engineer
By: / l N Man
Civil Engineer IV - Subdivisions
XC: Reading file
Project file
S: /LETTERS /2016/PM12100 WALLS BOND REDUCTION
1600 Truxtun Avenue www.bakersfieldcity.us Otto 4e
Bakersfield • Cali lonlia • 93301 w.
o �
(661)326-3724 u ^
Fax(661)852 -2120 a i
4�W P