HomeMy WebLinkAboutCC 4 RELEASE OF BONDS 04-05-93CONSE'.- CALENDAR NO. 4
G-5-9:
(t, S
)ATE: APRIL 5, 1993 I n t e r- C O ITl
TO: WILLIAM A. HUSTON, CITY MANAGER
FROM: PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBJECT: RELEASE OF BONDS FOR TRACT NO. 13733
That the Tustin City Council authorize the release of the following
bonds of the indicated amounts:
Faithful Performance Bond No. 11127179478.....$39,761.25
Labor and Materials Bond No. 11127179478......$39,761.25
Monumentation Bond No. 11127179486............$ 8,400.00
Warranty Bond No. 11127179478M ................$19,880.00
FISCAL IMPACT
None.
BACKGROUND
The subject tract was being proposed by California Pacific Homes
- and was to be located northerly of Irvine Boulevard, westerly of
Robinson Drive and bounded on. the north and west by the golf
course.
As a condition of approval, the Developer was required to post the
following improvement bonds:
Faithful Performance Bond No. 11127179478.....$39,761.25
Labor and Materials Bond No. 11127179478......$39,761.25
Monumentation Bond No. 11127179486............$ 8,400.00
Warranty Bond No. 11127179478M ................519,880.00
The Developer, California Pacific Homes, has terminated the subject
development prior to beginning construction and has requested the
release of the above listed subdivision bonds. Their present
intent is to replan the project for a single family detached home
product and file a new vesting tentative tract map.
Robert S. Ledendecker Jer& Otteson
Director of Public Works/ Associate Civil Engineer
City Engineer
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