| | | | | | | | Agenda Item - 3.c.
City of Garden Grove
INTER-DEPARTMENT MEMORANDUM
| To: | Scott C. Stiles
| From: | William E. Murray
| | Dept.: | City Manager
| Dept.: | Public Works
| | Subject: | Approval to exonerate improvement bonds for Tract Map No. 17818 for property located at 12381 Nelson Street, Garden Grove. (Action Item) | Date: | 8/22/2017 |
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| | | | | | | | OBJECTIVE
To request City Council approval to exonerate the improvement bonds for Tract Map No. 17818 for the purpose of a subdivision for property located west of Nelson Street between Lampson Avenue and Holly Drive at 12381 Nelson Street, Garden Grove. |
| | | | | | | | BACKGROUND
The City Council approved Final Tract Map No. 17818 and Subdivision Agreement with Heritage Homes Management, LLC, at the meeting held on December 8, 2015. The property is a 0.903-acre site with common areas for landscaping and recreation purposes, private streets, drainage and utilities, and the construction of four (4) units of single-family residential development designed on individual lots. |
| | | | | | | | DISCUSSION
The Subdivision Improvement Agreement requires the posting of improvement bonds to ensure completion of the improvement of street, sewer, water, drainage, and other related onsite improvements for the subject development. With the work completed, the following improvement bonds are ready for exoneration:
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Public Improvement
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Amount
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Faithful Performance
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$271,112.00
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Labor and Material
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$135,556.00
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Monument
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$2,340.00
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| | | | | | | | FINANCIAL IMPACT
There is no financial impact to the General Fund. |
| | | | | | | | RECOMMENDATION
It is recommended that the City Council:
- Approve the exoneration of the improvement bonds listed above for Tract Map No. 17818 located at 12381 Nelson, west of Nelson Street between Lampson Avenue and Holly Drive, Garden Grove.
By: Kamyar Dibaj, MS
Project Engineer
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