| | | | | | | | 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 Tract Map No. 18078 improvement bonds for property located at 11222 Garden Grove Boulevard, Garden Grove. (Action Item) | Date: | 11/24/2020 |
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| | | | | | | | OBJECTIVE
To request City Council approval to exonerate the improvement bonds for Tract Map No. 18078 for property located on the south side of Garden Grove Boulevard, east of Euclid Street at 11222 Garden Grove Boulevard, Garden Grove. |
| | | | | | | | BACKGROUND
The subject subdivision was approved by the City Council on June 26, 2018, and it comprises a 16-unit project that includes new commercial space in work-live units along Garden Grove Boulevard and new residential units. Easements for a public utility, vehicle access, domestic water, and appurtenances have 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:
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Public Improvement
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Amount
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Faithful Performance
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$255,531.05
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Labor and Material
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$127,765.22
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Monument
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$ 4,500.00
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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. 18078, located at 11222 Garden Grove Boulevard, Garden Grove (on the south side of Garden Grove Boulevard, east of Euclid Street).
By: Kamyar Dibaj, Project Engineer
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