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STAFF REPORT - RELEASE OF LANDSCAPE SECURITIES FOR TRACT 37644.pdf

Corona City Council
February 5, 2025

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STAFF REPORT - RELEASE OF LANDSCAPE SECURITIES FOR TRACT 37644.pdf
Meeting
February 5, 2025
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Corona City Council
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Text extracted from the city's file for reading and search. Open the original on pub-corona.escribemeetings.com. That file is the official record.

DATE: 02/05/2025
TO: Honorable Mayor and City Council Members
FROM: Planning and Development Department
2025-38

REQUEST FOR CITY COUNCIL ACTION
SUBJECT:

RELEASE OF THE LANDSCAPE SECURITIES POSTED BY TAYLOR MORRISON OF CALIFORNIA LLC, A CALIFORNIA LIMITED COMPANY FOR TRACT MAP 37644 LOCATED SOUTH OF EAGLE GLEN PARKWAY AND WEST OF INTERSTATE 15 (APPLICANT: TAYLOR MORRISON OF CALIFORNIA LLC, A CALIFORNIA LIMITED

COMPANY)
EXECUTIVE SUMMARY:

This staff report asks the City Council to accept the landscape improvements and release the appropriate improvement securities associated with Tract Map 37644. The developer has completed the landscaping associated with the residential construction for Tract Map 37644 and is requesting the release of the posted securities.

RECOMMENDED ACTION:

That the City Council:
a. Accept the landscape improvements associated with Tract Map 37644. b. Retain twenty-five percent (25%) of the Faithful Performance Security for one year beyond the acceptance of the improvements as security for repair and replacement of any improvements that fail to meet City standards at the end of the one-year period. (Bond No. 613-103587-2, 613-103589-9, 613-103591-7) c. Retain the Labor and Material Security for six months beyond the acceptance of the improvements and automatically release the security unless claims are filed. (Bond No. 613-103587-2, 613-103589-9, 613-103591-7)
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 August 21, 2019. The map facilitated 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.

Taylor Morrison of California, LLC., a California Limited Liability Company, has since purchased Lots N through V for the construction of 88 single-family detached condominiums, including four model home units within the subdivision.

On July 6, 2022, Taylor Morrison of California LLC entered into security substitution with the City and posted securities to guarantee the construction of the street and landscape improvements required for the recordation of Tract Map 37644.

ANALYSIS:

The improvements secured by these agreements have been completed and inspected to ensure conformity with City specifications.

Twenty-five percent (25%) of the Faithful Performance Security for the landscape improvements will be retained for a period of one year to guarantee repair or replacement of any improvements that fail before the end of the one-year period. Any written claims against the performance security must be made before the one-year guarantee period, which is set to expire on February 5, 2026. City Staff will release the Faithful Performance Security one year after acceptance of the improvements by the City Council, pursuant to California Government Code Section 66499.9 (c).

It is necessary to retain the Labor and Material Security for a period of six months, in accordance with the State Subdivision Map Act.

The following is a summary of the securities:

Security Security No. Faithful
Performance Security No. Labor & Materials
Lots (T, U and V)
Florentine Drive,
Ruby Lane
613-103587-2 $125,400 613-103587-2 $ 62,700
and Olvida
Street Parkway
Landscape
Improvements
Lots (N, O & P )
Melogold Way,
Satsuma Lane
and Panama Drive
Parkway
Landscape
Improvements
613-103589-9 $171,200 613-103589-9 $85,600
Lots (Q, R &
S) Yuzu Street,
Bergamot Street
and Stelamar Way
Parkway
Landscape
Improvements
613-103591-7 $152,400 613-103591-7 $76,200
FINANCIAL IMPACT:

All applicable fees have been paid by the developer.

ENVIRONMENTAL ANALYSIS:

The project was previously evaluated by an Environmental Impact Report that was certified in 2012 according to CEQA Sections 15162 and 15163 of the State Guidelines for Implementing the California Environmental Quality Act, and the Supplemental Environmental Impact Report adopted in 2016. Therefore, no further environmental analysis is required to reduce the amount of the project’s posted securities.

PREPARED BY: JESSICA KANG, ASSOCIATE ENGINEER
REVIEWED BY: JOANNE COLETTA, PLANNING AND DEVELOPMENT DIRECTOR ATTACHMENTS:

1. Exhibit 1 – Tract Map

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