City of Corona
Staff Report
400 S. Vicentia Ave.
Corona, CA 92882
File #: 22-0806
REQUEST FOR CITY COUNCIL ACTION
DATE: 10/19/2022
TO: Honorable Mayor and City Council Members
FROM: Planning and Development Department
SUBJECT:
Request for a partial reduction in the amount of the precise grading security posted by Latitude Business Park, LLC for Parcel Map 37608, located on the west side of Temescal Canyon Road and north of Tom Barnes Street.
EXECUTIVE SUMMARY:
This staff report asks City Council to consider reducing the amount of an existing precise grading security posted by Latitude Business Park, LLC for Parcel Map 37608. The project involved the grading of approximately 75 acres to facilitate the development of 15 industrial buildings located on the west side of Temescal Canyon Road and north of Tom Barnes Street. A substantial amount of the precise grading work for the project has been completed with 12 of the buildings having been already constructed. The proposed request will reduce the amount of the security posted by the developer.
RECOMMENDED ACTION:
That the City Council reduce the amount of the Precise Grading Faithful Performance Security for Parcel Map 37608 from $640,400 to $320,200 (Bond No. 24253000).
BACKGROUND & HISTORY:
Parcel Map 37608 is the subdivision of 74.81 acres into 13 parcels to facilitate the development of 15 industrial buildings for office, manufacturing, and warehouse purposes. The project site is zoned Light Industry (LI) per the El Cerrito Specific Plan and is located on the west side of Temescal Canyon Road, north of Tom Barnes Street. Parcel Map 37608 was approved by the City Council on April 1, 2020.
Latitude Business Park, LLC is the developer of the project, and on June 2, 2021, it entered into a Precise Grading Agreement with the City and posted a security to commence precise grading operations. The developer posted the following security with the City:
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File #: 22-0806
Grading Security Security No. Faithful
Performance
Precise Grading and Drainage
Improvements DWG# 19-
022P (PWGR2019-0017)
24253000 $640,400
ANALYSIS:
A substantial amount of the precise grading has been completed with 12 of the buildings within the project having been already constructed. The on-site slopes and the construction of the drainage facilities have also been graded. The developer is requesting to reduce the grading security at this time to alleviate overall bond liabilities. City staff recommends reducing the Faithful Performance Security by 50%, which will ensure sufficient security is maintained to guarantee completion of the work.
A summary of the recommended reduction is follows:
Grading Security Security No. Original
Amount
Reduced
Amount
Precise Grading and Drainage
Improvements DWG# 1
9-022P (PWGR2019-0017)
24253000 $640,400 $320,200
FINANCIAL IMPACT:
The developer has paid $1,735 for the bond reduction fee. Reducing the amount of the grading security will not impact the City’s General Fund.
ENVIRONMENTAL ANALYSIS:
This action is exempt pursuant to Section 15061(b)(3) of the Guidelines for the California Environmental Quality Act (CEQA), which states that a project is exempt from CEQA if the activity is covered by the commonsense exemption that CEQA applies only to projects that have the potential for causing a significant effect on the environment. Where it can be seen with certainty that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA. This action is to reduce the grading security posted for a previously approved project. There is no possibility that this action will have a significant effect on the environment. Therefore, no further environmental analysis is required.
PREPARED BY: NOE HERRERA, ASSOCIATE ENGINEER
REVIEWED BY: JOANNE COLETTA, PLANNING AND DEVELOPMENT DIRECTOR Attachments:
1. Exhibit 1 - Site plan
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File #: 22-0806
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