HomeMy WebLinkAbout06 RLEASE OF BONDS 09-18-00 NO. 6
AGENDA RE,. ORT
TO:
FROM:
SUBJECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR PARCEL
MAP NO. 99-197 (WENDY'S RESTAURANT)
SUMMARY
All public improvements associated with Parcel Map No. 99-197 have 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. SD00079696 ................................................ $27,000.00
Labor and Material Bond No. SA00079696 ................................................... $13,500.00
Monumentation Bond No. SD00079697 ........................................................... $4,000.00
FISCAL IMPACT
None.
BACKGROUND
The subject development is bounded on the north and east by El Camino Real, on the south by the I-5
Freeway and on the west by Red Hill Avenue as shown on the attached location map.
As a condition of approval the developer, Consolidated Restaurants of California, Inc., was required to post
the following improvement bonds:
Faithful Performance Bond No. SD00079696 ............................................... $ 27,000.00
Labor and Material Bond No. SA00079696 ................................................... $13,500.00
Subdivision Warranty Bond No. SD00079696-M ........................................... $ 2,700.00
Monumentation Bond No. SD00079697 ........................................................... $ 4,000.00
DISCUSSION
The developer has completed all work related to public improvements and monumentation for Parcel Map
No. 99-197 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. The Subdivision
Warranty Bond, however, will remain in effect for one year from the date of acceptance.
Tim D. Serlet ,,~l~r~es~n -
Director of Public Works/City Engineer Associate Civil Engineer
TDS:JO:ccg:Accep Pub Imp & Release bond PM99-197.doc
Attachment