RESOLUTION R2022-XXX
resolution accepting Public Improvements for the Vintage II, Tract 4061, subdivision; approving exoneration of the Performance Bond; approving exoneration of the Labor and Materials Bond six (6) months after the date of acceptance; and approving exoneration of the Warranty Bond twelve (12) months after the date of acceptance.
WHEREAS, General Plan Housing Element Policy H-P-27 states that, “The City shall promote the expeditious processing and approval of residential projects that meet General Plan policies and City regulatory requirements;” and WHEREAS, Troy Wright, General Partner of Vintage II, LP, a California Limited Partnership (“DEVELOPER”), has requested the City Council of the City of Manteca, a Municipal Corporation (“CITY”), accept the public improvements for Vintage II, Tract 4061; and WHEREAS, the General Plan Public Facilities and Services Element Goal PF-5 states that, “The City’s public services and facilities will support economic development and residential growth in the City;” and WHEREAS, all phases of the public improvements have been inspected, tested, and completed to the satisfaction of the Engineering Department of the CITY; and WHEREAS, the City Council has considered all information related to this matter as presented at the public meetings of the City Council identified herein, including any supporting reports by City Staff and any information provided during public meetings.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Manteca, as follows:
The City Council hereby finds that the facts set forth in the recitals to this Resolution are true and correct and establish the factual basis for the City Council’s adoption of this Resolution.
The City Council hereby finds that the public improvements for Vintage II, Tract 4061, are complete and are hereby accepted.
The City Council hereby assumes all future maintenance of the completed public improvements.
The Faithful Performance Bond in the amount of $2,621,228.02 on deposit with the CITY is hereby exonerated upon receipt by CITY of another bond in the amount of $262,123 as a One-year Warranty Bond as provided in the Improvement Agreement between CITY and DEVELOPER.
The City Engineer is hereby authorized to exonerate the Labor and Materials Bond in the amount of $1,310,614.01 six months after acceptance of said improvements if no claims have been filed.
The City Engineer is hereby authorized to exonerate the Warranty Bond twelve (12) months after the date of acceptance.
The City Clerk is hereby instructed to record this Resolution with the San Joaquin County Recorder’s Office.
This Resolution shall take effect immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council of the City of Manteca at a public meeting of said City Council held on the 1st day of November 2022, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
MAYOR: ________________________
Benjamin J. Cantu
Mayor
ATTEST: ________________________
Cassandra Candini-Tilton
Director/City Clerk
Resolution __ ____
R2022-XX Page 1 of 2 August 1, 2020
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