Once permits have been issued for a project, the developer must complete the public improvements by the date identified in the agreement. If the work is incomplete by that date, a bond extension is required.
The developer of an incomplete project is notified 30 days prior to the expiration date. To begin the extension process, a Development Agreement Extension Request Form and the appropriate fee must be submitted to the Bonds and Agreements Center.
Staff reviews the extension request to ensure it is complete and consistent with the original agreement. However, before an extension is granted for a third and subsequent extension requests, the county conducts research to determine if the project is likely to default.
Once complete, the extension package is submitted to the Bond Committee for approval.
If a developer wishes to decrease the original bond amount based on work that has been completed, a bond reductionmay be requested. Only projects not in default or at least 30 percent complete are eligible for a reduction.
An updated Surety Value Estimate showing the percentages of work completed for each listed item must be completed and submitted with the appropriate fee to the Bonds and Agreements Center.
Staff notifies the developer of the reduction once the completed work has been verified by a county site inspector. Reductions are limited to three per year and are only permitted to be reduced by a specified percentage of the original estimate.
Bond reductions are often combined with bond extensions.
In cases where the developer changes prior to bond release, a bond replacement package is required. If this occurs, please contact Bonds and Agreements staff at 703-222-0801, TTY 711, or via email for a replacement package relevant to your specific needs.
The new developer must follow the same procedures as a new bond. See the Bond and Permit Package for more information.
The conservation escrow is permitted to be transferred to the new developer. In cases where the developer remains but wishes to replace the current surety value, then a new supplement agreement, certificate of insurance and bond is required.