CITY OF MENIFEE
SUBJECT: Acceptance of Public Improvements and 90% Release of Security for Menifee Plaza, by Golden Star Investment
Properties, LLC
MEETING DATE: January 17, 2024
TO: Mayor and City Council
PREPARED BY: Chet Robinson, Acting Principal Engineer
REVIEWED BY: Nick Fidler, Public Works Director
APPROVED BY: Rebekah Kramer, Acting City Manager
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RECOMMENDED ACTION
1. Accept the public improvements for streets, drainage, water, and sewer systems for Menifee Plaza, located south of Newport Road and east of Town Center Drive in Menifee Town Center; and
2. Authorize the City Engineer to release 90% of the posted securities per the City’s Standard Policies.
DISCUSSION
Menifee Plaza (“Project”) is a commercial development that includes retail shops, restaurants, and a drive-through restaurant on an approximately 1.95-gross acre parcel located south of Newport Road and east of Town Center Drive in Menifee Town Center, as depicted in the attached project map. As part of the development requirements, Golden Star Investment Properties, LLC, a California Limited Liability Company (“Developer”), constructed streets, drainage, water, and sewer system improvements.
The Developer has now completed construction of these facilities and is requesting acceptance of the completed improvements to the City’s maintenance system. Staff has inspected the completed improvements, determined that the improvements have been constructed in accordance with City specifications and standards, and verified that all project conditions of approval have been met to release the faithful performance and material and labor security in accordance with City policy. A 10% warranty security would be held for a period of one year in accordance with the City Municipal Code. The original posted improvement securities are listed in Table 1 on the following page.
City of Menifee Staff Report
Public Improvement Acceptance, Menifee Plaza
January 17, 2024
1 9
7 6
Table 1 - Original Posted Security - Improvements
Improvement Security No.
Performance / Material
Faithful
Performance
Material and
Labor
Streets/Drainage 41411109 $235,500 $117,750
Water System 41411109 $79,000 $39,500
Sewer System 41411109 $92,000 $46,000
TOTAL $406,500 $203,250
STRATEGIC PLAN OBJECTIVE
Safe and Vibrant Community
FISCAL IMPACT
There is no fiscal impact associated with the recommended action. The developer has paid all necessary fees and deposits to cover the costs of the required inspection of the completed improvements. Ongoing maintenance costs for the improvements would be supported through approved Fiscal Years 2023/2024 and 2024/2025 operating budgets in Community Facilities District (“CFD”) 2014-1.
ATTACHMENTS
1. Project Map
2. Agreement – Streets and Drainage
3. Agreement – Water System
4. Agreement – Sewer System
5. Bond