City of Corona
Staff Report
400 S. Vicentia Ave.
Corona, CA 92882
File #: 22-0731
REQUEST FOR CITY COUNCIL ACTION
DATE: 09/21/2022
TO: Honorable Mayor and City Council Members
FROM: Planning and Development Department
SUBJECT:
Public improvement agreements and security substitutions for Tract Map 37644, Lots 24 through 29, located south of Cajalco Road and west of Interstate 15.
EXECUTIVE SUMMARY:
City Council consideration of the public improvement agreements with Beazer Homes Holding, LLC, a Delaware limited liability company, for streets, alleys, and landscape improvements on Lots 24 through 29, Z-Right, and AA of Tract Map 37644, which involves replacing the previous public improvement securities posted by the master developer, Arantine Hills Holdings, LP. The project site is within the second development phase of the Arantine Hills Specific Plan (Bedford Communities).
The proposed request will release the original improvement bonds posted by the master developer for the Bedford Communities and replace them with new securities posted by Beazer Homes. Beazer Homes purchased lots from the master developer and the new securities will cover the improvements being constructed by Beazer Homes.
RECOMMENDED ACTION:
That the City Council:
a. Approve the Improvement Agreements between the City and Beazer Homes Holdings, LLC, a Delaware limited liability company, and authorize the Mayor to sign the Agreements. b. Authorize the Mayor to accept the replacement securities for the streets, alleys, and landscape improvements from Beazer Homes Holdings, LLC, for Lots 24 through 29, Z-Right, and AA of Tract Map 37644.
c. Release the existing securities posted by Arantine Hills Holdings, LP (PB02497501121 FP and LM, PB02497501122 FP and LM, PB02497501123 FP and LM, PB02497501139 FP and LM, and PB02497501141 FP and LM).
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File #: 22-0731
BACKGROUND & HISTORY:
Tract Map 37644 is a subdivision of approximately 51 acres into 45 lots for condominium purposes and is the second development phase of the Arantine Hills Specific Plan. The City Council approved the second development phase on July 22, 2019. The map facilitates the construction of 490 residential units, which includes 88 single-family detached condominiums, 66 detached units in clusters of 6, 72 triplex units, 78 paired units in clusters of 8, and 186 townhomes. The project also includes open space areas, trails, and an active park and recreational facility.
On January 15, 2020, Arantine Hills Holdings, LP, entered into Public Improvement Agreements with the City and posted bonds for the development of Tract Map 37644. Beazer Homes, LLC has since purchased Lots 24 through 29, Z-Right, and AA for the construction of 72 triplex units, including 4 model home units within the subdivision.
ANALYSIS:
Beazer Homes Holdings, LLC is requesting to replace the public improvement securities for the streets, alleys, and landscape improvements on Lots 24 through 29, Z-Right, and AA within Tract Map 37644. The new public improvement agreements will replace the previous securities posted by Arantine Hills Holdings, LP. The following tables show the existing securities posted with the City and the new securities that will replace the existing securities.
Existing Securities - PLE170022
Security Security No. Faithful
Performance
Security No. Labor &
Materials
Triplex Alley Bond (Lots
24 and 27)
PB02497501121 $355,800 PB02497501121 $177,900
Triplex Alley Bond (Lots
25 and 28)
PB02497501122 $355,800 PB02497501122 $177,900
Triplex Alley Bond (Lots 26 and 29)PB02497501123 $356,000 PB02497501123 $178,000 Shada Lame Parkway Landscaping Bond (Lot ZRight)PB02497501139 $57,000 PB02497501139 $28,500 Summer Way Parkway Landscaping Bond (Lot AA) PB02497501141 $127,000 PB02497501141 $63,500 Replacement Securities - PLE170022
Security Security No. Faithful
Performance
Security No. Labor &
Materials
Triplex Alley Bond
(Lots 24 and 27)
Bond No. 0246169 $355,800 Bond No. 0246169 $177,900
Triplex Alley Bond
(Lots 25 and 28)
Bond No. 0246170 $355,800 Bond No. 0246170 $177,900
Triplex Alley Bond
(Lots 26 and 29)
Bond No. 0246171 $356,000 Bond No. 0246171 $178,000
Shada Lame Parkway
Landscaping Bond
(Lot Z-Right)
Bond No. 0246172 $57,000 Bond No. 0246172 $28,500
Summer Way Parkway
Landscaping Bond
Bond No. 0246173 $127,000 Bond No. 0246173 $63,500
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File #: 22-0731
py
(Lots 24 and 27)
$,$,
Triplex Alley Bond
(Lots 25 and 28)
Bond No. 0246170 $355,800 Bond No. 0246170 $177,900
Triplex Alley Bond
(Lots 26 and 29)
Bond No. 0246171 $356,000 Bond No. 0246171 $178,000
Shada Lame Parkway
Landscaping Bond
(Lot Z-Right)
Bond No. 0246172 $57,000 Bond No. 0246172 $28,500
Summer Way Parkway
Landscaping Bond
(Lot AA)
Bond No. 0246173 $127,000 Bond No. 0246173 $63,500
FINANCIAL IMPACT:
There is no change to the value of the securities. The bond substitution fee has been paid by the developer.
ENVIRONMENTAL ANALYSIS:
The project was previously evaluated by an Environmental Impact Report that was certified in 2012 pursuant to California Environmental Quality Act (CEQA) Sections 15162 and 15163 of the State Guidelines for Implementing CEQA, and the Supplemental Environmental Impact Report adopted in 2016. Therefore, no further environmental analysis is required for the posting of project securities.
PREPARED BY: JESSICA KANG, ASSOCIATE ENGINEER
REVIEWED BY: JOANNE COLETTA, PLANNING AND DEVELOPMENT DIRECTOR Attachments:
1. Exhibit 1 - Location Map
2. Exhibit 2 - Agreements
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