HomeMy WebLinkAboutConsent Calendar #8 8-3-87 Inter Com
TO: WILLIAm! HUSTON, CIl~ MANAGER
FROM: PUBLIC WORKS DEPARlltENT/ENGINEERING DIVISION
SUBJECT: ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR TRACT
NO. 12345
RECOMMENDATION:
That the Tustin City Council accept the lanscape/irrigation improvements within
Lot No. 8, Tract No. 12345 and authorize the release of the remaining portion of
the following bonds:
°Faithful performance No. 5241 O0 68 (25%) - $170,0.50.00
°Labor and Materials No. 5242 O0 68 (25%) - $ 85,025.00
BACKGROUND:
Tract No. 12345 is a subdivision of the Irvine Company and is sometimes referred
to as the Phase I Residential Development in the East Tustin area. This tract is
bounded by the Santa Aha Freeway on the south, Tustin Ranch Road on the east,
Bryan Ave., on the north and Browning Ave. on the west.
On October 22, 1986, the City Council accepted a portion of the public
improvements and authorized a reduction of 75% of the required amounts for the
Faithful Performance and Labor/Materials Bonds. The monumentation Of said tract
was 100% complete at that time and the Monumentation Bond was released in its
entirety on that date.
DISCUSSION:
The remaining public improvements consisting of landscaping/irrigation systems on
Lot 8 has been completed to the satisfaction of the Public Works Department/
Engineering Division. The remaining portions (25%) of the following bonds are now
ready for release:
°Faithful performance No. 5241 O0 68 - $170,050.00
°Labor and Materials No. 5242 O0 68 - $ 85,025.00
The Subdivision Warranty Bond No. 5241 O0 68 in the amount of $68,020.00 must
remain in effect for a period of one year after the City Council accepts the
public improvements for the entire development.
Bob Ledendecker
Director of Public Works/City Engineer
BL/lg
cc: Dan Hartman