HomeMy WebLinkAboutE-15. Tract 54057-13 and 54057-18 Bond ReleaseCONSENT ITEM
E-15
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: SEPTEMBER 19, 2016
SUBJECT: APPROVE RELEASE OF BONDS FOR TRACTS 54057-13 AND 54057-18 IN THE
ROSEDALE COMMUNITY
SUMMARY:
The public improvements for Tracts 54057-13 and 54057-18, in the Rosedale Community, have been
completed in accordance with the approved plans. The home builder is now seeking release of the
posted bonds. This action approves the release of performance, labor and materials, and monument
bonds for Tracts 54057-13 and 54057-18.
RECOMMENDATION:
Staff recommends that the City Council take the following actions:
1) Approve the release of the Performance Bond in the amount of $118,152.21, the Labor and
Materials Bond in the amount of $118,152.21, and the Monument Bond in the amount of
$11,750.00 for Tract 54057-13; and
2) Approve the release of the Performance Bond in the amount of $67,057.00, the Labor and
Materials Bond in the amount of $67,057.00, and the Monument Bond in the amount of
$5,000.00 for Tract 54057-18.
DISCUSSION:
Tract 54057-13 is located in the westerly portion of the Rosedale Community, adjacent to Alisal Park.
The Final Map, associated Public Improvements Agreement, and bond documents were approved by the
City Council on July 18, 2011. On that date, the Council approved an Agreement for the Completion of
Public Improvements for Tract No. 54057-13, a Faithful Performance Bond in the amount of
$118,152.21, a Labor and Materials Bond also in the amount of $118,152.21, and a Monument Bond in
the amount of $11,750.00.
Approved
Council Meeting
9/19/2016
Release of Bonds for Tracts 54057-13 and 54057-18
September 19, 2016
Page 2
Tract 54057-18 is located in the westerly portion of the Rosedale Community, between Alisal Park and
the Recreation Center. The Final Map, associated Public Improvements Agreement, and bond
documents were approved by the City Council on October 3, 2011. On that date, the Council approved
an Agreement for the Completion of Public Improvements for Tract No. 54057-18, a Faithful
Performance Bond in the amount of $67,057.00, a Labor and Materials Bond also in the amount of
$67,057.00, and a Monument Bond in the amount of $5,000.00.
All public improvements required under the approved plans and Improvement Agreements have been
inspected and have been completed in accordance with applicable standards. In addition, the survey
monuments have been set in accordance with applicable requirements. The security 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