REQUEST FOR CITY COUNCIL ACTION
DATE: 03/16/2022
TO: Honorable Mayor and City Council Members
FROM: Planning & Development Department
SUBJECT:
Title
Public Improvement Agreements and security substitutions associated with Tract Map 37644, Lots 38 through 45, located south of Eagle Glen Parkway and west of Interstate 15.
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EXECUTIVE SUMMARY:
Tri Pointe Homes Holdings, Inc., a Delaware Corporation, is requesting to enter into an agreement with the City for public improvements and post replacement securities for the street and alley improvements on Lots 38 through 45 of Tract Map 37644. The project site is within the second development phase of the Arantine Hills Specific Plan (Bedford Communities). The proposed request will release the original improvement bonds posted by the master developer, Arantine Hills Holdings, LP, for the Bedford Communities and replace them with new securities posted by Tri Pointe Homes. Tri Pointe Homes purchased lots from the master developer. The new securities will cover the improvements being constructed by Tri Pointe Homes.
RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Authorize the Mayor to execute Improvement Agreements between the City and Tri Pointe Homes Holdings, Inc., a Delaware Corporation.
b. Authorize the Mayor to accept replacement securities for the street and alley improvements from Tri Pointe Homes Holdings, Inc. for Lots 38 through 45 of Tract Map 37644.
c. Release the existing securities posted by Arantine Hills Holdings, LP (PB02497501127 FP and LM, PB02497501128 FP and LM, PB02497501129 FP and LM, PB02497501146 FP and LM, and PB02497501147 FP and LM).
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BACKGROUND & HISTORY:
Tract Map 37644 is a subdivision of approximately 51 acres into 45 lots for condominium purposes and is the second development phase of the Arantine Hills Specific Plan. The second development phase was approved by the City Council on July 22, 2019. The map facilitates the construction of ...
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