HomeMy WebLinkAbout08 TRACT NO. 15681AGENDA REPORT
NO. 8
02-18-03
MEETING DATE:
TO:
FROM:
SUBJECT:
FEBRUARY 18, 2003
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR
TRACT NO. 15681 (BROOKFIELD TUSTIN RANCH INC.)
SUMMARY
All public improvements associated with Tract No. 15681 have now 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. 21-39-89 .................................................. $103,000.00
Labor and Material Bond No. 21-39-89 ..................................................... $ 51,500.00
Monumentation Bond No. 21-39-90 ......................................................... $ 85,000.00
FISCAL IMPACT
None.
BACKGROUND
Tract 15681 is bordered on the east by Pioneer Road, on the west by Peters Canyon Regional Park, on the
north by portions of Tract No. 15428 and on the south by portions of Tract No. 14410.
As a condition of approval the developer, Brookfield Tustin Ranch Inc., was required to post the following
improvement bonds:
Faithful Performance Bond No. 21-39-89 .................................................. $103,000.00
Labor and Material Bond No. 21-39-89 ..................................................... $ 51,500.00
Subdivision Warranty Bond No. 21-39-88 ................................................. $ 10,300.00
Monumentation Bond No. 21-39-90 .......................................................... $ 85,000.00
DISCUSSION
The developer has completed all work related to public improvements and monumentation for Tract No.
15681 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 with the exception of the
Subdivision Warranty Bond. The Subdivision Warranty Bond will remain in effect for one year from the date
of acceptance of the public improvements.
Tim D. Serlet
Director of Public Works/City Engineer
Dana Kasdan ~
Engineering Services Manager
TDS:DK:ccg:Accept PI & release Bond TR 15681 .doc
Attachment
Z
..,
ZQ_
c~o
,,,,/"'/
,,,;
'ON/o¥1::11