REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Travis Hopkins, City Manager
VIA: Chau Vu, Director of Public Works
PREPARED BY: Steve Bogart, Acting Principal Civil Engineer
Subject:
title
Approve and Accept the Public Improvements, Release Sureties, and Accept Guarantee and Warranty Bond for the Holly Triangle Residential Project (Tract 19118)
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Statement of Issue:
Bonanni Development Company IV, LLC, the Developer of Tract 19118, has completed construction of all required public improvements and is now eligible for the release of sureties and bonds in accordance with the provisions of the Subdivision Map Act.
Financial Impact:
No funding is required for this action.
Recommended Action:
recommendation
A) Accept the improvements constructed and dedicated for public use with Tract 19118, and instruct the City Clerk to record the Notice of Acceptance of Public Improvements (Attachment 2) with the Orange County Recorder; and,
B) Accept Guarantee and Warranty Bond No. 4470394W (Attachment 3), the surety furnished for guarantee and warranty of public improvements, and instruct the City Clerk to file the bond with the City Treasurer; and,
C) Release Faithful Performance Bond No. 4470394, Labor and Material Bond No. 4470394, and Monument Bond No. 4470395; and,
D) Instruct the City Clerk to notify the developer, Bonanni Development Company IV, of this action, and the City Treasurer to notify the surety, SureTec Insurance Company, of this action.
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Alternative Action(s):
Deny the recommended actions. Denying the recommended actions may result in non-compliance with the Subdivision Map Act. Specifically, Section 66499.9 of the California Government Code requires a guarantee and warranty of the public improvements for a period of one year following completion and acceptance, covering any defective work, labor or materials furnished. Denying acceptance of the Guarantee and Warranty Bond co...
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