HomeMy WebLinkAboutE-3 Staff Report - Tract 54057-21 and 22 Bond ReleaseCONSENT ITEM
E-3
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
VIA: TROY L. BUTZLAFF, ICMA-CM, CITY MANAGER
FROM: DANIEL BOBADILLA, P.E., DIRECTOR OF PUBLIC WORKS/CITY ENGINEER
DATE: JUNE 5, 2017
SUBJECT: APPROVE RELEASE OF BONDS FOR TRACTS 54057-21 AND 54057-22 IN THE
ROSEDALE COMMUNITY
SUMMARY:
The public improvements for Tracts 54057-21 and 54057-22, also known as Azalea in the Rosedale
Community, have been completed by Rosedale Land Partners in accordance with the approved plans.
The home builder is now seeking release of the posted bonds. This action releases the performance,
labor and materials, and monument bonds for Tracts 54057-21 and 54057-22.
RECOMMENDATION:
Staff recommends that the City Council take the following actions:
1) Approve the release of the Monument Bond in the amount of $4,300 for Tract 54057-21; and
2) Approve the release of the Performance Bond in the amount of $380,168, the Labor and
Materials Bond in the amount of $380,168, and the Monument Bond in the amount of $8,000 for
Tract 54057-22.
DISCUSSION:
Tracts 54057-21 and 54057-22 are located in the Rosedale Community, south of Sierra Madre Avenue
and west of Azusa Veterans Way. The Final Map, associated Agreement for Completion of Public
Improvements, and bond documents were approved by the City Council on June 2, 2014. That approval
includes a Performance Bond in the amount of $380,168, a Labor and Materials Bond for $380,168, and
a Monument Bond in the amount of $8,000 for Tract 54057-22. Additionally, a Monument Bond in the
amount of $4,300 was approved for Tract 54057-21.
APPROVED
CITY COUNCIL
6/5/2017
Tracts 54057-21 and 54057-22
June 5, 2017
Page 2
All public improvements required under the approved plans and Agreement for Completion of Public
Improvements have been completed in accordance with applicable standards. The bonds can now be
released.
FISCAL IMPACT:
The public improvements will now become the responsibility of the City. The fiscal impacts to maintain
the improvements were addressed in the Fiscal Impact Study approved as part of the Monrovia Nursery
Specific Plan.
Prepared by: Reviewed and Approved:
Daniel Bobadilla, P.E. Louie F. Lacasella
Director of Public Works/City Engineer Management Analyst
Reviewed and Approved:
Troy L. Butzlaff, ICMA-CM
City Manager