HomeMy WebLinkAbout04 RELEASE BONDS 03-20-00 NO. 4
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DATE: MARCH 20, 2000 ~
TO:
FROM:
SUBJECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR
TRACT NO. 15475 (BAYWOOD)
SUMMARY
All public improvements associated with Tract No. 15475 have been completed and the Public
Works Department is recommending release of the bonds.
RECOMMENDATION
It is recommended that the City Council release the following bonds for the indicated
amounts:
Faithful Performance Bond No. B97-013943 ................................... $113,000.00
Labor and Materials Bond No. B97-013943 .................................... $ 56,500.00
Monumentation Bond No. B97-013944 ........................................... $ 17,000.00
FISCAL IMPACT
None.
BACKGROUND
The subject tract is bounded on the north by Tract No. 15474, on the south by Kinsman
Circle, on the east by Tract No. 15350 and on the west by Tustin Ranch Road as shown on
the attached location map.
As a condition of approval the developer, Baywood Homes - Tustin Ranch, LLC, was required
to post the following improvement bonds:
Faithful Performance Bond No. B97-013943 ................................... $113,000.00
Labor and Materials Bond No. B97-013943 .................................... $ 56,500.00
Subdivision Warranty Bond No. B97-013943 .................................. $ 11,300.00
Monumentation Bond No. B97-013944 ........................................... $ 17,000.00
Acceptance of Public Improvements and Release of Bonds for Tract No. 15475 (Baywood)
March 20, 2000
Page 2
DISCUSSION
The Developer has completed all work related to public improvements and monumentation
within Tract No. 15475 as required by the conditions of approval to the satisfaction of the
Public Works Department. It is recommended that the above-mentioned bonds be released by
the City Council. The Subdivision Warranty Bond, however, will remain in effect for one year
from the date of acceptance.
Tim'D. serlet '
Director of Public Works/City Engineer
Associate Civil Engineer
TDS:JO:ccg:Accpt Public Imps & release bonds TR 15475.doc
Attachment: Location Map
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