AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 09/04/2019
TO: Honorable Mayor and City Council Members
FROM: Public Works Department
SUBJECT:
Title
City Council consideration of Improvement Agreements and Security Substitution for Lots 28, 29, 33, and 34 and Lot P, Tract Map 37030 - Woodside 05S, LP, a California Limited Partnership.
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RECOMMENDED ACTION:
Recommended action
That the City Council:
1. Authorize the Mayor to execute Improvement Agreements between the City and Woodside 05S, LP, a California Limited Partnership.
2. Authorize the Mayor to accept the replacement securities for public improvements from the new developer of Lots 28, 29, 33, and 34 and Lot P of Tract Map 37030, Woodside 05S, LP.
3. Release the existing securities for Lots 28, 29, 33, and 34 to the master developer of Tract Map 37030, Arantine Hills Holdings, LP (PB02497500657 FP and LM).
4. Release seventy-percent of the Faithful Performance and Labor and Material Securities for street and parkway landscape improvements for Powell Way, Lot P to the master developer of Tract Map 37030, Arantine Hills Holdings, LP (PB02497500648 FP and LM, PB02497500661 FP and LM).
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ANALYSIS:
Tract Map 37030 is a subdivision of approximately 54 acres into 45 lots for condominium purposes and is the first phase of development in the Arantine Hills Specific Plan, approved by the City Council on October 4, 2017. The project is located south of Eagle Glen Parkway and west of Interstate 15, as shown on Exhibit "A." The map facilitates the construction of 393 residential units comprised of 100 single-family detached condominiums, 96 detached units in clusters of six, 96 paired units in clusters of eight, 101 townhomes, open space areas, trail areas, and an active park and recreational facility.
On October 18, 2017, the master developer, Arantine Hills Holdings, LP, entered into Public Improvement Agreements with the City and posted bonds for the development of Tract Map 37...
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