HomeMy WebLinkAbout08 RELEASE OF BONDS 08-02-04
AGENDA REPORT
Agenda Item 8
Reviewed: I~ U
City Manager ~
Finance Director N/A
MEETING DATE:
AUGUST 2, 2004
WILLIAM A. HUSTON, CITY MANAGER
TO:
FROM:
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBJECT:
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF
BONDS FOR TRACT NO. 15993 (STANDARD PACIFIC HOMES)
SUMMARY
All public improvements associated with Tract No. 15993 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 for the indicated
amounts:
Faithful Performance Bond No. 11127492210........................... $21,596.00
Labor and Material Bond No. 11127492210.............................. $21,596.00
Subdivision Warranty Bond No. 11127492210.......................... $21,596.00
Monumentation Bond No. 11127492228................................... $11,300.00
FISCAL IMPACT
There is no fiscal impact to the City with this action.
BACKGROUND
Tract No. 15993 is located northwest of Peters Canon Road within the East Tustin Specific
Plan (ETSP). Surrounding properties include Phases I and II of Tustin Ranch Estates to the
south (Tract No. 15663 and Tract No. 16184), Peters Canyon Regional Park to the
northeast, residences within the County of Orange to the west, and the EI Dorado
Development (Tract No. 14410) to the east. As a condition of approval, Standard Pacific
Homes was required to post the subject bonds as part of the development of the site and
for the construction of public improvements adjacent to the project.
The developer has completed all work related to the public improvements and monumentation
for Tract No. 15993 as required by the conditions of approval to the satisfaction of the Public
Works Department. The public improvements were completed and accepted on May 5, 2003.
It is recommended that the above-mentioned bonds be released by the City Council at this
time.
S:\City Council Items\2004 Council Items\Release of Bonds'for TR 15993.doc
Acceptance of Public Improvements and Release of Bonds for Tract No. 15993 (Standard
Pacific Homes)
August 2,2004
Page 2
C/~Q~
Tim D. Serlet .
Director of Public Works/City Engineer
Dana R. Kasdan
Engineering Services Manager
Attachment: Location Exhibit
S:\City Council Items\2004 Council Items\Release of Bonds for TR 15993.döc
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PROJECT NAME: TRACT MAP 15993