AGENDA REPORT
REQUEST FOR CITY COUNCIL ACTION
DATE: 11/06/2019
TO: Honorable Mayor and City Council Members
FROM: Public Works Department
SUBJECT:
Title
City Council consideration of Improvement Agreements and Security Substitution for Lots I, J, K, and L Tract Map 37030 - Richmond American Homes of Maryland, Inc.
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RECOMMENDED ACTION:
Recommended action
That the City Council:
1. Authorize the Mayor to execute Improvement Agreements between the City and Richmond American Homes of Maryland, Inc.
2. Authorize the Mayor to accept the replacement securities for public improvements from the new developer of Lots I, J, K, and L of Tract Map 37030, Richmond American Homes of Maryland, Inc.
3. Release the existing securities for Lots I, J, K, and L to the master developer of Tract Map 37030, Arantine Hills Holdings LP.
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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 37030. The developer and merchant builder of the 50 x 100 home product, Richmond American Homes of Maryland, Inc., has since purchased Lots 5 through 9, 16, and I, J, K, and L for the construction of 59 detached single-family units, including 3 model home units. At this time, the developer has requested to replace the improvement securiti...
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