| | | | | | | | Agenda Item - 4.b.
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 the Subdivision Improvement Bonds for Tract Map No. 17818 for property located at 12381 Nelson Street, Garden Grove. (Action Item) | Date: | 1/9/2018 |
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| | | | | | | | OBJECTIVE
To request City Council approval to exonerate the Subdivision Agreement Improvement Bonds for Tract Map No. 17818 located on the west side of Nelson Street between Lampson Avenue and Holly Drive at 12381 Nelson Street, Garden Grove. |
| | | | | | | | BACKGROUND
The Subdivision Improvement Agreement was approved by the City Council on December 8, 2015, for a 0.903-acre site, with common areas for landscaping and recreation purposes, private streets, drainage, utilities, and the construction of a four (4), single-family unit 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 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 Public Improvement Bonds for Tract Map No. 17818 located on the west side of Nelson Street between Lampson Avenue and Holly Drive at 12381 Nelson Street, Garden Grove.
By: Kamyar Dibaj, MS
Project Engineer
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