| | | | | | | | Agenda Item - 3.d.
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 Parcel Map No. PM 2017-187 for the property located at 7901 Garden Grove Boulevard, Garden Grove. (Action Item) | Date: | 11/12/2019 |
|
| | | | | | | | OBJECTIVE
To request City Council approval to exonerate the improvement bonds for Parcel Map No. PM-2017-187, located at 7901 Garden Grove Boulevard, Garden Grove (northwest corner of Beach Boulevard and Garden Grove Boulevard). |
| | | | | | | | BACKGROUND
The subject subdivision parcel map was approved by City Council on February 12, 2019. The commercial site of 10.18 acres is situated within two city boundaries, with 4.1 acres located in the City of Garden Grove and 6.08 acres located in the City of Stanton. |
| | | | | | | | DISCUSSION
The Subdivision Improvement 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
|
|
Surety Bond
|
$ 2,111,750
|
|
Monument Bond
|
$ 3,000 (Cash)
|
|
| | | | | | | | 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 Parcel Map No. PM-2017-187, located at 7901 Garden Grove Boulevard (northwest corner of Beach Boulevard and Garden Grove Boulevard).
By: Kamyar Dibaj, MS, Project Engineer
|
| ATTACHMENTS: | | Description | Upload Date | Type | File Name | | Bond | 11/4/2019 | Backup Material | 11-12-19_Street_Improvements_and_Grading_Permit_Surety_Bond.pdf | | Cash Receipt for Monument Bond | 11/4/2019 | Backup Material | 11-12-19_Deposit_for_Monumentation_Bond_PM_2017-187.pdf |
|
|