HomeMy WebLinkAbout03 ACCEPTANCE AND BOND RELEASE-TRACT MAP 16581, MOFFETT MEADOWS PARTNERS• Agenda Item 3
AGENDA REPORT Reviewed'
City Manager
Finance Director
MEETING DATE: AUGUST 7, 2012
TO: JEFFREY C. PARKER, CITY MANAGER
FROM: DOUGLAS S. STACK, DIRECTOR OF PUBLIC WORKS /CITY ENGINEER
SUBJECT: ACCEPT PUBLIC IMPROVEMENTS AND AUTHORIZE RELEASE OF BONDS
FOR TRACT MAP NO. 16581, MOFFETT MEADOWS PARTNERS, LLC
(COLUMBUS SQUARE)
SUMMARY
All public non - backbone improvements associated with Tract Map No. 16581 have been
completed. The Public Works Department is now recommending acceptance of the public
improvements and release of the public improvement and monumentation bonds.
RECOMMENDATION
It is recommended that the City Council take the following actions:
1. Accept the public improvements for Tract Map No. 16581; and
2. Authorize the City Clerk's office to release the following bonds in the indicated amounts:
• Faithful Performance Bond (Bond No. 4410268) ......... $ 2,786,300.00
• Labor & Material Bond (Bond No. 4410268) ................ $ 1,393,150.00
• Warranty Bond (Bond No. 4410268) ............................... $ 278,630.00
• Monumentation Bond (Bond No. 217 0069) .................... $ 100,000.00
FISCAL IMPACT
There is no fiscal impact associated with this action.
BACKGROUND
Tract Map No. 16581 is located within Planning Area 4 (Parcel 23) and Planning Area 5 (Parcel 24)
of the MCAS- Tustin Specific Plan and the community is commonly known as "Columbus Square'.
The site is bounded by Edinger Avenue on the north, Kensington Park Drive to the east, an
industrial office park to the west, and Valencia Avenue to the south. As a condition of approval,
Moffett Meadows Partners, LLC was required to post the subject bonds for the construction of
public improvements adjacent to the project.
The developer has completed all work related to the public non - backbone improvements and
monumentation for Tract Map No. 16581 to the satisfaction of the Public Works Department.
Therefore, it is recommended that the City Council authorize the release of the above - mentioned
bonds. 1 i
Stack, P.E.
Public Works /City Engineer
Attachment Location Exhibit
S \City Council Items\2012 Council Items\Accept Public Improvements and Release Bonds for Tract ntap No. 16581.doex
VICINITY MAP
Columbus Square
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PROJECT LOCATION
Columbus Square "OF
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Tract Map No. 16581 �— ICJ COLUM S SOUARE L E` .._- __. /.', .
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