HomeMy WebLinkAbout08 RELEASE OF BONDS 09-21-98AGENOA -'
NO8
9-21-98
DATE'
SEPTEMBER21, 1998
Inter-Com
TO: WILLIAM A. HUSTON, CITY MANAGER
FROM- PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBdECT: ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR
TRACT NO. 15428 (VIDORRA)
The Public Works DeP~ent is reque~g that the City CoUncil accept the public improvements and
release the bondS for Tract No. 15428,
RECOMMENDATION
It is recommended that the Tustin City CoUncil accept all public improvements within Tract No. 15428 and
authorize release of the following bonds for the indicated mounts:
Faithful Performance Bond No. 24-003-364 ........................................................... $37,000.00
Labor and Materials Bond No. 24-003-364 ............................................................. $18,500.00
MonumentationBond No. 24-003-366 ...................................................................... $6,000.00
FISCAL IMPACT
None.
BACKGROUND
The subject tract is bounded on the south by Pioneer Road, on the north by Tracts 15429 & 15430, on the
east by Jamboree Road and on the west by Peters Canyon Regional Park.
As a condition of approval the developer, Catellus Residential-Tustin II, LLC, was required to post the
following improvement bonds:
Faithful Performance Bond No. 24-003-364 ........................................................... $37,000.00
Labor and Materials Bond No. 24-003-364 ............................................................. $18,500.00
Subdivision Warranty Bond No. 24-003-364 ............................................................ $3'700.00
MonumentationBond No. 24-003-366 ...................................................................... $6,000.00
DISCUSSION
The developer has completed all work related to the public improvements and monmnentation within Tract
No. 15428 as required by the approved plans to the satisfaction of the Public Works Department. It is
recommended that the above mentioned bonds be released and the public improvements be accepted 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
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Dave Balbas
Junior Civil Engineer
TDS:ccg:Release Bonds Tract 15428
Attachments
Jef~ Ot~eson-~
Associate Civil Engineer
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