| | | | | | | | 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 improvement bonds for Tract Map No. 18117, located at 12111 Buaro Street, Garden Grove. (Action Item) | Date: | 6/25/2019 |
|
| | | | | | | | OBJECTIVE
To request City Council approval to exonerate the improvement bonds for Tract Map No. 18117, located at 12111 Buaro Street, Garden Grove (on the west side of Buaro Street, south of Chapman Avenue, between Jentges Avenue and Twintree Avenue). |
| | | | | | | | BACKGROUND
The subject subdivision was approved by the City Council on March 27, 2018, and it comprises a 0.987-acre site for construction of 17 residential townhouse units in two buildings. An easement for a domestic water system and appurtenances has been dedicated. |
| | | | | | | | 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:
|
Public Improvement
|
Amount
|
|
Faithful Performance
|
$340,546.00
|
|
Labor and Material
|
$170,273.00
|
|
Monument
|
$ 6,000.00
|
|
| | | | | | | | 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. 18117, located at 12111 Buaro Street.
By: Kamyar Dibaj, MS, Project Engineer
|
|