REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
September 24, 2024
FROM
NOEL CASTILLO, Director, Department of Public Works - Transportation
SUBJECT
Title
Application and Agreement for Irrevocable Standby Letter of Credit with Wells Fargo Bank for the Glen Helen Parkway Bridge Replacement - Phase II Project in the Devore Area
End
RECOMMENDATION(S)
Recommendation
1. Approve Application for an Irrevocable Standby Letter of Credit between San Bernardino County and Wells Fargo Bank in favor of the California Department of Fish and Wildlife, in the amount of $959,469.66, at an administrative cost not to exceed $50,000, for the Glen Helen Parkway Bridge Replacement - Phase II Project in the unincorporated Devore area, for a term of October 1, 2024, through September 30, 2025, renewed annually until compensatory mitigation obligations have been satisfied.
2. Approve Irrevocable Standby Letter of Credit Agreement, including non-standard terms, between San Bernardino County and Wells Fargo Bank, in the amount of $959,469.66, at an administrative cost not-to-exceed $50,000, for the Glen Helen Parkway Bridge Replacement - Phase II Project in the unincorporated Devore area, for a term of October 1, 2024, through September 30, 2025, renewed annually until compensatory mitigation obligations have been satisfied.
3. Authorize the Director of the Department of Public Works to sign and execute amendments to the application for Irrevocable Standby Letters of Credit, and Irrevocable Standby Letter of Credit Agreement, subject to review by County Counsel, and required by the financial institution to issue final Irrevocable Standby Letters of Credit if such financial assurances are required as a condition of Federal or State regulatory environmental permits, for the Glen Helen Parkway Bridge Replacement - Phase II Project in the unincorporated Devore area.
4. Direct the Director of the Department of Public Work...
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