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Accept Public Improvements, Authorize City Clerk to Release Improvement Bonds and Accept One-Year Warranty Bond for Tract No. 17160 for La Floresta Development Planning Area 10 Located at the Northeast Corner of Imperial Highway and Valencia Avenue
Accept Public Improvements,
Authorize City Clerk to Release Improvement Bonds, and
Accept One-year Warranty Bond
On June 21, 2016, City Council approved Final Tract Map 17160 ("Map") for single-family lots, Subdivision Improvement Agreement ("SIA") and Improvement Bonds for La Floresta Development Planning Area 10 ("PA10"), located at the northeast corner of Imperial Highway and Valencia Avenue. This map subdivided an approximately 18.9-acre site into ninety-six (96) single family lots, five (5) lettered lots for private streets, one (1) lettered lot for a private alley, and seventeen (17) lettered lots for landscape purposes. See attached Exhibit "A" for the site location.
The applicant, Pulte Home Corporation ("Developer"), entered into the SIA and submitted Improvement Bonds (Performance and Labor Materials Bonds) in the amount of Two Million Forty-five Thousand Dollars ($2,045,000.00) for construction of the required public and private improvements. The required public improvements consisted of public water mains, public sewer mains and public storm drain mains. The required private improvements, included curb, gutter, sidewalk, driveways, street lights, and water quality treatment features.
Since approval of the Map, the Developer has completed construction of the required improvements. All construction was completed in accordance with the approved improvement plans and to the City Engineer's satisfaction. In addition, City staff has reviewed the Conditions of Approval for this development and has determined that the associated public improvements conditions have been met.
City staff is recommending that City Council accept the public improvements and release the Performance Bond. The Labor Material Bond will remain in full effect for six months and be released by the City Clerk. A One-year Warranty Bond, in the amount of Two Hundred Four Thousand Five Hundred Dollars ($204,500.00), is provided in accordance with the SIA to guarantee the work and materials for one year following the date of acceptance. The One-year Warranty Bond will be released after the one-year warranty period if there is no warranty work remaining. Therefore, City staff is recommending that City Council accept the One-year Warranty Bond.
There will be no fiscal impact to the General Fund. The improvements were constructed at no cost to the City and fees for the development are current and paid. The City will be responsible for maintenance of the public improvements upon acceptance, which is covered within the Public Works annual operational budget.
The required public improvements have been completed pursuant to the SIA and a warranty bond for one year has been provided. Therefore, staff recommends the City Council accept the public improvements, release the Improvement Bonds, and accept the One-Year Warranty Bond.
William Gallardo, City Manager
Prepared by: Hsing Chao, Associate Engineer
Concurrence: Michael Ho, P.E., Deputy Director of Public Works / City Engineer
Tony Olmos, P.E., Director of Public Works
Exhibit "A" - Site Location
One-Year Warranty Bond
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