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 releasing the Public Improvement Securities associated with the Bedford Canyon Water Line, Tract Map 36294 - Arantine Hills Holdings LP, a Delaware Limited Partnership.
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RECOMMENDED ACTION:
Recommended action
That the City Council release the Public Improvement Securities associated with the Bedford Canyon Water Line, Tract Map 36294 (PB02479500550).
Body
ANALYSIS:
Tract Map 36294 is a multi-phase subdivision of 276 acres, approved by the City Council on June 28, 2017. The project is located south of Eagle Glen Parkway and west of Interstate 15, as shown on Exhibit "A," and is comprised of a master-planned residential community including a general commercial development. The developer proposes to construct a maximum of 1,806 dwelling units and 80,000 square-feet of general commercial. On June 28, 2017, Arantine Hills Holdings LP entered into an improvement agreement with the City and posted security to guarantee construction of the Bedford Canyon Water Line.
The City of Corona has constructed the Bedford Canyon Water Line and the Arantine Hills Developer has paid the City the full cost to construct the water facilities in accordance with the Arantine Hills Development Agreement. Therefore, it is appropriate to release, in full, the Faithful Performance and Labor and Material Securities for the Bedford Canyon Water Line at this time.
COMMITTEE ACTION:
Not applicable.
STRATEGIC PLAN:
Not applicable.
FISCAL IMPACT:
All applicable fees have been paid by the developer.
ENVIRONMENTAL ANALYSIS:
This action is exempt pursuant to Section 15061(b)(3) of the Guidelines for the California Environmental Quality Act (CEQA), which states that a project is exempt from CEQA if the activity is covered by the general rule that CEQA applies only to projects that have the ...
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