HomeMy WebLinkAbout06 RELEASE OF BONDS 10-21-96AGE N
NO. 6
10-21-96
in t e r-C o m
DATE:
OCTOBER 21, 1996
TO:
FROM:
SUBJECT:
WIIJ.IAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPAR~/F~GINF. FRING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND REI.EASE OF BONDS FOR
TRACT NO. 14110 (VENTANA)
RECOMIVIENDATION
It is recommended that the Tustin City Council, at their meeting of October 21, 1996 accept all public
improvements within Tract No. 14110 (Ventana) and authorize the release of the following bonds for the
Faithful Performance Bond No. 3SM80544000
Labor and Materials Bond No. 3SM80544000
FISCAL IMPACT
None.
BACKGROUND
The subject tract is bounded on the west by Tustin Ranch Road, on the south by Greenway Drive, on the
east by a private park and on the north by La Colina Drive.
As a condition of approval., the developer, Greystone Homes, was required to post the following
improvement bonds:
Faithful Performance Bond No. 3SM80544000
Labor and Materials Bond No. 3SM80544000
Subdivision Warranty Bond No. 3SM8054400
.............................. $3,500.00
DISCUSSION
The developer has completed all work related to the public improvements within Tract No. 14110 as
required per the approved plans to the satisfaction of the Public Works Department and it is recommended
that the above-mentioned bonds be released and the public improvements be accepted by the City Council.
The Subdivision Warranty Bond will remain in effect for one year from the date of acceptance.
Tim D. Serlet
Director of Public Works/City Engineer
Dave Balbas
Junior Civil Engineer
×,~.elry45tteson
Associate Civil Engineer
TDS:I)B:JO:k~/CK)Ulq~~ Tr~ No. 14110