HomeMy WebLinkAbout09 RELEASE OF BONDS 05-19-03AGENDA REPORT
Agenda Item
Reviewed:
City Manager
Finance Director
MEETING DATE: MAY 19, 2003
TO:
FROM:
SUBJECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
RELEASE OF BONDS FOR PARCEL MAP 99-161
(155 EL CAMINO REAL, ACORN NATURALIST)
SUMMARY
All public improvements associated with Parcel Map 99-161 have been completed and
accepted. The Public Works Department is now recommending release of the bonds.
RECOMMENDATION
It is recommended that the City Council release the following bonds in the indicated amounts:
Faithful Performance Bond No. 815752S ...................................... $25,000.00
Labor and Material Bond No. 825752S .......................................... $12,500.00
Monumentation Bond No. 515753S ................................................ $2,000.00
FISCAL IMPACT
There is no fiscal impact to the City with this action.
BACKGROUND
Parcel Map 99-161 is located on the east side of El Camino Real between First Street and
Second Street. This map is associated with the Acorn Naturalist retail development at 155 El
Camino Real.
As a condition of approval the applicant was required to post the following improvement bonds:
Faithful Performance Bond No. 815752S ...................................... $25,000.00
Labor and Material Bond No. 825752S .......................................... $12,500.00
Monumentation Bond No. 515753S ................................................ $2,000.00
Subdivision Warranty Bond No. 815752S ...................................... $2,500.00
Release of Bonds for Parcel Map 99-161
(Acorn Naturalist)
May 19, 2003
Page 2
The developer has completed all work related to the public improvements and monumentation for
Parcel Map 99-161 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 public improvements, which was
February 20, 2003.
Tim D. Serlet
Director of Public Works/City Engineer
Dana R. Kasdan
Engineering Services Manager
Attachment: Location Exhibit
S:\City Council Items\2003 Council Items\Release Bonds PM99-161.doc
LOCATION EXHIBIT
COUNTY
TUSTIN
RANCH
TUSTIN LEGACY
IFO~ME~LY HAN~IE GONPI
AHI ITATIOIdl
PARCEL MAP
99-161
LOCATION
FILE: EXH-155 EL CAMINO REAL
/
,,~ COTY
C~U0~TY
ADMIN.
BLDG.
Ei
FIRST
145 14'~0
155 150
165 160
175 I 170
185 [ 180
~ ~[~ ,90
200 I---:, ~ 210 I
224 I
~05 150'
115 110
125 120
135 130
140
150
181-83-85
180
195 ~
SECOND ST.
205
o
215-17
225 '~J 230
255 240
245 250
255 ~
THIRD ST.
STREET
57-151
155
185
215
225
NO SCALE
240-44 I 24~