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: Bob Milani, Principal Civil Engineer
Subject:
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Approve and accept the Public Improvements, Release the Sureties, and Accept a Guarantee and Warranty Bond for the Shorehouse Residential Subdivision (Tract 18068)
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Statement of Issue:
C3 DLG 414 Main Street, LLC, the developer of Tract 18068 located at 414 - 424 Main Street, has completed construction of all required public improvements and is now eligible to receive a release of sureties 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 improvements constructed and dedicated for public use with Tract 18068, 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. PB02497501239-M (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) Instruct the City Treasurer to release the Faithful Performance Bond No. PB02497501239, Labor and Material Bond No. PB02497501239, and Monument Bond No. PB02497501240; and,
D) Instruct the City Clerk to notify the developer, C3 DLG 414 Main Street, LLC, of this action, and the City Treasurer to notify the surety company, Philadelphia Indemnity Insurance Company, of this action.
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Alternative Action(s):
Provide staff alternate direction, noting that the City will need to comply with the Subdivision Map Act, whereby:
Section 66499.9 of the State of California Government Code requires the guarantee and warranty of the work for a period of one year following completion and acceptance of the improvement(s), against any defect...
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