| | | | | | | | 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 of the exoneration of the improvement bonds for Tract Map No. 17646 located at 13581 and 13591 Yockey Street, Garden Grove. (Action Item) | Date: | 10/25/2016 |
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| | | | | | | | OBJECTIVE
To request City Council approval to exonerate the improvement bonds for Tract Map No. 17646 located at 13581 and 13591 Yockey Street, Garden Grove (at the west side of Yockey Street between Lariat Avenue and Trask Avenue). |
| | | | | | | | BACKGROUND
The subject subdivision was approved by City Council on January 13, 2015, and it is a 0.927-acre site, with common areas for landscaping and recreation purposes, private streets, drainage and utilities, and for the construction of 6 units of single family residential development designed on individual lots. |
| | | | | | | | 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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$234,552.00
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Labor and Material
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$117,276.00
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Monument
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$2,340.00
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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. 17646 located at 13581 and 13591 Yockey Street, Garden Grove (at the west side of Yockey Street between Lariat Avenue and Trask Avenue).
By: Kamyar Dibaj, Project Engineer
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