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File #: 22-706    Version: 1
Type: Consent Calendar Status: Passed
File created: 8/12/2022 In control: City Council/Public Financing Authority
On agenda: 9/6/2022 Final action: 9/6/2022
Title: Substitution of Subdivision Agreement with Shea Homes Limited Partnership and Bonds for the Cameron Townhomes Project (Tract 19154)
Attachments: 1. Att#1 Subdivision Agreement (Shea), 2. Att#2 Bonds FP LM Mon (Shea)
REQUEST FOR CITY COUNCIL ACTION

SUBMITTED TO: Honorable Mayor and City Council Members

SUBMITTED BY: Al Zelinka, City Manager

VIA: Sean Crumby, Director of Public Works

PREPARED BY: Steve Bogart, Senior Civil Engineer

Subject:
title
Substitution of Subdivision Agreement with Shea Homes Limited Partnership and Bonds for the Cameron Townhomes Project (Tract 19154)
body

Statement of Issue:
A replacement Subdivision Agreement and the associated bonds are submitted to the City Council for execution and acceptance for the Cameron Townhomes Project (Tract 19154), because the project has recently been acquired by a new developer, Shea Homes Limited Partnership.

Financial Impact:
No City funds required to implement the substitution of subdivision agreement and bonds.

Recommended Action:
recommendation
A) Approve the Subdivision Agreement by and between the City of Huntington Beach and Shea Homes Limited Partnership for the Cameron Townhomes Project (Tract 19154), and authorize execution by the Mayor and City Clerk; and

B) Accept Faithful Performance Bond No. CMS0349976 for $94,495.50, Labor and Material Bond No. CMS0349976 for $47,229.75 and Monument Bond No. CMS0349977 for $1,800.00, the sureties furnished for installation of the required public improvements, and instruct the City Clerk to file the bonds with the City Treasurer; and

C) Release the Faithful Performance/Labor and Material Bond No. 1001181018 and Monument Bond No. 1001181019 and instruct the City Treasurer to notify the surety company, American Contractors Indemnity Company of such Council action.

end

Alternative Action(s):
Deny the recommended actions, and direct staff accordingly. Absent this new agreement and bonds, the City would lack the desired sureties to achieve the developer's fulfilment of their project's required public improvements.

Analysis:
On October 12, 2021, the Planning Commission approved Tentative Tract Map No. 19154 to subdivide approximately 0.91 acre into...

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