REQUEST FOR CITY COUNCIL ACTION
DATE: 11/03/2021
TO: Honorable Mayor and City Council Members
FROM: Planning & Development Department
SUBJECT:
Title
Acceptance of public improvements for 1548 and 1552 West Maple Street and release of the securities posted by La Maple Partners LLC for grading and public improvements.
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EXECUTIVE SUMMARY:
The owners of 1548 and 1552 West Maple Street were required to post securities for the grading and public improvements associated with the construction of a new office building. The on-site improvements and the public improvements have been constructed and completed by the owner. The City's acceptance of these improvements will release the appropriate securities to the developer.
RECOMMENDED ACTION:
Recommended action
That the City Council:
a. Accept the public improvements for 1548 and 1552 West Maple Street, Corona.
b. Retain twenty-five percent (25%) of the Faithful Performance Security for one year beyond acceptance of the improvements as security for repair or replacement of any improvements that fail to meet City Standards at the end of the one-year period (Faithful Performance Cash Deposit R10024, $18,200).
c. Retain the Labor and Material Security for six months beyond the acceptance of the improvements, and automatically release the security unless any claims are filed (Labor and Material Cash Deposit R10024, $9,100).
d. Release the Precise Grading Security (Cash Deposit R10026, $8,700).
e. Release the Erosion Control Security (Cash Deposit R10025, $2,500).
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BACKGROUND & HISTORY:
La Maple Partners LLC, a Nevada Limited Liability Company, is the property owner of 1548 and 1552 West Maple Street. The owner recently constructed a 6,214 square foot, two story office building on the 0.6-acre site located in the City's M-2 (General manufacturing) Zone. The City Council at its meeting on November 20, 2018, entered into public improvement and grading agreements with the property owner to se...
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