| | | | | | | | 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 the Improvement bonds for Tract Map No. 17927, located at 12901 Lewis Street, Garden Grove. (Action Item) | Date: | 1/26/2021 |
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| | | | | | | | OBJECTIVE
To request City Council approval to exonerate the improvement bonds for Tract Map No. 17927, located on the northwest corner of Lewis Street and Garden Grove Boulevard, at 12901 Lewis Street, Garden Grove. |
| | | | | | | | BACKGROUND
The subject subdivision was approved by City Council on August 28, 2018, and is comprised of 70 single-family detached residential units and related street and open space improvements on a 9.01-acre site located on the northwest corner of Lewis Street and Garden Grove Boulevard, at 12901 Lewis Street, Garden Grove. 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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$1,547,407.00
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Labor and Material
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$ 773,703.91
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Monument
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$ 29,000.00
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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. 17927 located at 12901 Lewis Street, Garden Grove.
By: Kamyar Dibaj, Project Engineer
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