CONSTRUCTIONAPPROVED

Town of Apple Valley Agenda 2026-05-26

Apple Valley Reduces Bonds for Parcel Map 20473

Performance securities reduced to 50%: Street $517,690; Sewer $438,347; Landscaping $24,413; Survey Monuments $15,000 (no warranty)Town of Apple ValleyWOOD INVESTMENTS COMPANIES INCMay 26, 2026

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Description

The Town of Apple Valley plans to approve completion of improvements for Parcel Map 20473 by Wood Investments Companies, Inc. and will reduce associated performance bonds by 50% while releasing labor and materials securities. The remaining bond amounts will be held for one year as warranty coverage.

Contract Details

Contract Amount

Performance securities reduced to 50%: Street $517,690; Sewer $438,347; Landscaping $24,413; Survey Monuments $15,000 (no warranty)

Vendor

WOOD INVESTMENTS COMPANIES INC

Agency

Town of Apple Valley, CA

Contract Type

CONSTRUCTION

Document Date

May 26, 2026

Contract Term

Remaining 50% performance security retained for one year as warranty/maintenance bond

Renewal Info

Performance securities converted into one-year warranty/maintenance bond period following acceptance of improvements; after one year and absent defects, remaining securities may be released.

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