REQUEST FOR CITY COUNCIL ACTION
DATE: 10/19/2022
TO: Honorable Mayor and City Council Members
FROM: Planning and Development Department
SUBJECT:
Title
Request for a partial reduction in the amount of the precise grading security posted by Latitude Business Park, LLC for Parcel Map 37608, located on the west side of Temescal Canyon Road and north of Tom Barnes Street.
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EXECUTIVE SUMMARY:
This staff report asks City Council to consider reducing the amount of an existing precise grading security posted by Latitude Business Park, LLC for Parcel Map 37608. The project involved the grading of approximately 75 acres to facilitate the development of 15 industrial buildings located on the west side of Temescal Canyon Road and north of Tom Barnes Street. A substantial amount of the precise grading work for the project has been completed with 12 of the buildings having been already constructed. The proposed request will reduce the amount of the security posted by the developer.
RECOMMENDED ACTION:
Recommended action
That the City Council reduce the amount of the Precise Grading Faithful Performance Security for Parcel Map 37608 from $640,400 to $320,200 (Bond No. 24253000).
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BACKGROUND & HISTORY:
Parcel Map 37608 is the subdivision of 74.81 acres into 13 parcels to facilitate the development of 15 industrial buildings for office, manufacturing, and warehouse purposes. The project site is zoned Light Industry (LI) per the El Cerrito Specific Plan and is located on the west side of Temescal Canyon Road, north of Tom Barnes Street. Parcel Map 37608 was approved by the City Council on April 1, 2020.
Latitude Business Park, LLC is the developer of the project, and on June 2, 2021, it entered into a Precise Grading Agreement with the City and posted a security to commence precise grading operations. The developer posted the following security with the City:
Grading Security
Security No.
Faithful Performance
Precise Grading and Drainage Improveme...
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