REQUEST FOR CITY COUNCIL ACTION
DATE: 08/21/2024
TO: Honorable Mayor and City Council Members
FROM: Planning and Development Department
SUBJECT:
Title
RELEASE OF GRADING AND IMPROVEMENT SECURITIES POSTED BY TRI POINTE HOMES INC, A DELAWARE CORPORATION, FOR TRACT MAP 36355 LOCATED ON THE NORTH AND SOUTH SIDE OF FOOTHILL PARKWAY, EAST OF STATE STREET (APPLICANT: TRI POINTE HOMES INC)
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EXECUTIVE SUMMARY:
This staff report asks the City Council to accept the public improvements and release the public improvement and grading securities posted by Tri Point Homes for Tract Map 36355. The developer has completed the precise grading, and the required public improvements associated with the residential development and is requesting the release of the posted securities.
RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Release the Grading and Erosion Control Securities posted for Tract Map 36355. (Bond No. PB03010401998)
b. Accept the street improvements associated with Tract Map 36355.
c. Retain twenty-five percent (25%) of the Faithful Performance Security for one year beyond the acceptance of the improvements as security for repair and replacement of any improvements that fail to meet City standards at the end of the one-year period. (Bond No. PB03010402000, PB03010402001)
d. Retain the Labor and Material Security for six months beyond the acceptance of the improvements and automatically release the security, unless claims are filed. (Bond No. PB03010402000, PB03010402001)
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BACKGROUND & HISTORY:
Tract Map 36355 subdivided 21.70 acres for residential purposes, creating one 16.87-acre lot for residential condominiums and seven lettered lots for roadway, open space, and flood control purposes totaling 4.83 acres. At its meeting on January 20, 2016, the City Council approved the tract map, which facilitated the construction of 146 single-family residential units. The residential units and public improvements associated with the...
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