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Att 4 PowerPoint Presentation

City Council/Public Financing Authority
May 21, 2024

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Att 4 PowerPoint Presentation
Meeting
May 21, 2024
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City Council/Public Financing Authority
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Text extracted from the city's file for reading and search. Open the original on huntingtonbeach.legistar1.com. That file is the official record.

Gisler Park
Acceptance of Public Improvements
and Release of Surety Bonds
Department of Public Works

BACKGROUND
• On September 28, 2021, the Huntington Beach Planning Commission conditionally approved Conditional Use Permit No. 20-024 and Tentative Tract Map No. 19136, authorizing the construction of Tract 19136, which includes development of a 13.9- acre site to subdivide into 85 detached single-family residences, along with onsite/offsite utility upgrades and street improvements along Strathmoor Lane, Effingham Drive, and Bluefield Drive.
• In addition to the improvements listed above, one of the conditional requirements for the project was for Lennar Homes of California, LLC (the developer) to improve adjacent Gisler Park, including new walkways, playground, irrigation, and landscaping. • On December 20, 2022, City Council approved execution of the Subdivison Agreement between the City and Lennar Homes of California, LLC (owner/developer), and also accepted the project’s required surety bonds. Tract 19136 and Gisler Park were bonded separately. The bonds for Gisler Park are as follows: Faithful Performance Bond No. US00121914SU22A and Labor and Materials Bond No.

US00121914SU22A. This bond release is only related to Gisler Park improvements.

Improvements for adjacent Tract 19136 are bonded separately and will remain in place.

LOCATION MAP

NEED/WHY/BENEFITS
• The developer has completed all required public improvements in Gisler Park and is now requesting release of the aforementioned surety bonds, pursuant to California Government Code Section 66499.7(a).
• The City Engineer has determined that the public improvements have been constructed in substantial compliance with the approved project plans and specifications and recommends acceptance of these improvements. • This bond release is only related to Gisler Park improvements. Improvements for adjacent Tract 19136 are bonded separately and will remain in place.

DETAILS
• The constructed public improvements in Gisler Park include:
• Concrete walkways, playground, irrigation, and landscaping • A Guarantee and Warranty Bond has been submitted by the Developer to provide a one-year warranty period to the City for the subject public improvements.

RECOMMENDATION
A) Accept the improvements constructed in Gisler Park, and instruct the City Clerk to record the Notice of Acceptance of Public Improvements with the Orange County Recorder; and, B) Release the securities for Gisler Park - Faithful Performance Bond No. US00121914SU22A and Labor and Materials Bond No. US00121914SU22A; and,
C) Accept Guarantee and Warranty Bond No. US00121914SU22A-M, the security furnished for guarantee and warranty of public improvements in Gisler Park, and instruct the City Clerk to file the bond with the City Treasurer; and,
D) Instruct the City Clerk to notify the developer, Lennar Homes of California, and the City Treasurer to notify the Surety, XL Specialty Insurance Company, of these actions; and, E) Instruct the City Treasurer to notify the City Clerk when the securities mentioned above have been released and the guarantee and warranty bond mentioned above has been accepted.

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