REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Eric G. Parra, Interim City Manager
VIA: Chau Vu, Director of Public Works
PREPARED BY: Jacob Aube, Senior Civil Engineer
Subject:
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Approve and Accept the Public Improvements, Release the Securities, and Accept a Guarantee and Warranty Bond for Gisler Park
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Statement of Issue:
Lennar Homes of California, the developer of Tract 19136, has completed their required public improvements of adjacent Gisler Park which were a condition of approval for Tract 19136. Lennar Homes of California is now eligible to receive a release of securities and bonds, pursuant to the provisions of the Subdivision Map Act.
Financial Impact:
No funding is required for this action.
Recommended Action:
recommendation
A) Accept the public improvements constructed in Gisler Park, and instruct the City Clerk to record the Notice of Acceptance of Public Improvements (Attachment 2) with the Orange County Recorder; and
B) Release the securities for Gisler Park - Faithful Performance Bond No. US00121914SU22A and Labor and Materials Bond No. US00121914SU22A; and
C) Accept Guarantee and Warranty Bond No. US00121914SU22A-M (Attachment 3), the security furnished for guarantee and warranty of public improvements in Gisler Park, and instruct the City Clerk to file the bond with the City Treasurer; and
D) Instruct the City Clerk to notify the developer, Lennar Homes of California, and the City Treasurer to notify the Surety, XL Specialty Insurance Company, of these actions; and
E) Instruct the City Treasurer to notify the City Clerk when the securities mentioned above have been released and the guarantee and warranty bond mentioned above has been accepted.
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Alternative Action(s):
Deny the recommended actions. Denying the recommended actions may violate the Subdivision Map Act whereby:
Section 66499.9 of the State of California Government Code requires the guarantee a...
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