REQUEST FOR CITY COUNCIL ACTION
DATE: 07/03/2024
TO: Honorable Mayor and City Council Members
FROM: Planning and Development Department
SUBJECT: .
Recommended e
PUBLIC STREET IMPROVEMENT SECURITY SUBSTITUTION ASSOCIATED WITH PARCEL MAP 38183, LOCATED ON 2550 SOUTH MAIN STREET (APPLICANT: CORONA COMMUNITY VILLAS, INC.)
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EXECUTIVE SUMMARY:
This staff report asks the City Council to approve the request from Corona Community Villas, Inc., a California Corporation, to post replacement securities for the public street improvements for Parcel Map 38183 for the property located at 2550 S. Main Street. The replacement would release the cash security previously posted and substitute it with a bond.
RECOMMENDED ACTION:
Recommended action
That the City Council authorize the Mayor to release the existing public street improvement security posted for the property and accept the replacement security posted by Corona Community Villas for Parcel Map 38183.
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BACKGROUND & HISTORY:
Parcel Map 38183 (PM 38183) subdivides 10 acres into two five-acre parcels located at 2550 South Main Street. The parcel map was approved by the City Council on December 1, 2021. The zoning of the property is Agricultural with a General Plan and South Corona Community Facilities Plan (CFP) designation of Medium Density Residential. The parcel facing Main Street contains the Seventh Day Adventist church and the parcel to the rear is undeveloped. Future development on the rear parcel will coexist with the existing church.
On April 19, 2023, the City Council authorized the execution of Public Improvement Agreements to secure the construction of required street improvements associated with the development of PM 38183. The securities were posted as detailed below:
Improvement Security
Security No.
Faithful Performance
Security No.
Labor & Materials
Public Street Improvements
Cash Receipt: R39217
$154,000
Cash Receipt: R39217
$77,000
ANALYSIS:
The applicant, Community Villas, Inc.,...
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