HomeMy WebLinkAbout08 RELEASE OF BONDS 01-20-04AGENDA REPORT
Agenda Item
Reviewed:
City Manager
Finance Director
8
MEETING DATE: JANUARY 20, 2004
TO:
FROM;
SUBJECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS. DEPARTMENT/ENGINEERING DlYlSION
RELEASE OF BONDS FOR PARCEL MAP NO. 2002-237
(1123 WARNER AVENUE, VOIT DEVELOPMENT COMPANY)
SUMMARY
All public improvements associated with Parcel Map No. 2002-237 have been completed and
accepted. The Public Works Department is now recommending release of the public
improvement bonds.
RECOMMENDATION
It is recommended that the City Council release the following bonds in the indicated amounts:
Faithful Performance Bond No. 929207449 ............................................ $23,000.00
Labor and Material Bond No. 929207449 ............................................... $11,500.00
Monumentation Bond (cash, Account No. 50 000 2604/920500) ............ $ 650.00
FISCAL IMPACT
There is no fiscal impact to the City with this action.
BACKGROUND
Parcel Map No. 2002-237 is located at 1123 Warner Avenue. As a condition of approval, Voit
Development Company was required to post the subject bonds as part of the development of
the site and for the construction and replacement of public improvements adjacent to the
project.
The developer has completed all work related to the public improvements and monumentation for
Pamel Map No. 2002-237 as required by the conditions of approval to the satisfaction of the
Public Works Department. The public improvements were completed and accepted in December
2003. It is recommended that the above-mentioned bonds be released by the City Council. The
Subdivision Warranty Bond (Bond No. 929268813, $ 2,500.00) will remain in effect for one year
from the date of acceptance of the public improvements, which was December 1, 2003.
Director of Public Works/City Engineer
Attachment: Location Exhibit
S:\City Council Itcms~2004 Council ltcms\Rclcase of Bonds for PM 2002-237.doc
Engineering Services Manager
CITY
OF
SANTA AN
LOCATION MAP
PARCEL MAP NO. 2002-237
COUNTY
OF
ORANGE
/
TUSTIN
RANCH
COUNTY
OF
ORANGE
· ~"x OF
IRVINE
NO SCALE
CITY
OF
SANTA ANA
CITY
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