| | | | | | | | 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: | Exoneration of Public Improvement bonds for Tract Map No. 18169, a subdivision project located at 9861 11th Street, Garden Grove. (Action Item) | Date: | 9/14/2021 |
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| | | | | | | | OBJECTIVE
For the City Council to exonerate the Public Improvement bonds for Tract Map No.18169, a subdivision project located between Kerry and Brookhurst Streets on the north side at 9861 11th Street, Garden Grove. |
| | | | | | | | BACKGROUND
The City Council approved Final Tract Map No. TR 18169 and a Subdivision Improvement Agreement with Consolidated Industries, Inc., on November 26, 2019, for a subdivision project. The 1.8 acre multi-family residential site, located between Kerry and Brookhurst Streets on the north side at 9861 11th Street, is comprised of 31 two and three story townhome units with street and open space improvements and dedicated easements for public utility, vehicle access, domestic water and appurtenances. |
| | | | | | | | DISCUSSION
The Subdivision Improvement Agreement requires the posting of improvement bonds to ensure completion of the street, sewer, water, drainage, and related onsite improvements for the development. With the project 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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$324,125.00
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Labor and Material
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$162,062.50
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Monument
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$ 5,000.00
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| | | | | | | | FINANCIAL IMPACT
There is no financial impact to the General Fund. |
| | | | | | | | RECOMMENDATION
It is recommended that the City Council:
- Exonerate the Public Improvement bonds for Tract Map No. 18169, a subdivision project located between Kerry and Brookhurst Streets on the north side at 9861 11th Street, Garden Grove.
By: Kamyar Dibaj, Project Engineer
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