HomeMy WebLinkAboutE-6 - Staff Report - Tract 54057-4 and 6 Bond ReleaseCONSENT ITEM
E-6
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
VIA: SERGIO GONZALEZ, CITY MANAGER
FROM: ROBERT DELGADILLO, P.E., DIRECTOR OF PUBLIC WORKS/CITY ENGINEER
DATE: DECEMBER 16, 2019
SUBJECT: RELEASE OF BONDS FOR TRACTS 54057-4 AND 54057-6 IN THE ROSEDALE
COMMUNITY
BACKGROUND:
The public improvements for Tracts 54057-4 and 54057-6, in the Rosedale Community, have been
completed in accordance with the approved plans. The home builder is now seeking release of the
posted bonds. The recommended actions approve the release of performance, labor and materials, and
monument bonds for Tract 54057-4 and 54057-6.
RECOMMENDATION:
Staff recommends that the City Council take the following actions:
1)Release the Performance Bond in the amount of $428,970.74, the Labor and Materials Bond in
the amount of $428,970.74 and the Monument Bond in the amount of $15,000 for Tract 54057-4;
and
2)Release the Performance Bond in the amount of $161,598.71, the Labor and Materials Bond in
the amount of $161,598.71, and the Monument Bond in the amount of $5,000 for Tract 54057-6.
ANALYSIS:
Tract 54057-4 pertains to the subdivision of 45 residential lots on Orange Blossom Way, bounded by
Sierra Madre Avenue and Azusa Veterans Way. The Final Map, associated Public Improvements
Agreement, and bond documents were approved by the City Council on October 6, 2014. On that date,
the Council approved an Agreement for the Completion of Public Improvements for Tract No. 54057-4,
a Faithful Performance Bond in the amount of $428,970.74, a Labor and Materials Bond also in the
amount of$428,970.74, and a Monument Bond in the amount of $15,000.
APPROVED
CITY COUNCIL
12/16/2019
Release of Bonds for Tract 54057-4 and 54057-6
December 16, 2019
Page 2
Tract 54057-6 pertains to the final subdivision of 7 lots. This subdivision is located on Juniper Ridge,
north of Sierra Madre Ave. The Final Map, associated Public Improvements Agreement, and bond
documents were approved by the City Council on December 1, 2014. On that date, the Council approved
an Agreement for the Completion of Public Improvements for Tract No. 54057-6, a Faithful
Performance Bond in the amount of $161,598.71, a Labor and Materials Bond also in the amount of
$161,598.71, and a Monument Bond in the amount of $5,000.
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 at the time of entitlement
approval in 2003.
Prepared by: Reviewed and Approved:
Robert Delgadillo, P.E. Sergio Gonzalez
Director of Public Works/City Engineer City Manager
Attachments:
1) Tract 54057-4 Final Tract Map
2) Tract 54057-6 Final Tract Map