CITY OF MENIFEE
SUBJECT: Public Improvement Agreement and Bonds for Tract Map No. 37358, Pacific Parkview, by Cal-Equity, LP
MEETING DATE: June 5, 2024
TO: Mayor and City Council
PREPARED BY: Chet Robinson, Principal Engineer
REVIEWED BY: Nick Fidler, Public Works Director
APPROVED BY: Armando G. Villa, City Manager
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RECOMMENDED ACTION
1. Approve and authorize the City Manager to execute a Public Improvement Agreement to guarantee the completion of required public improvements within the City of Menifee associated with Tract Map No. 37358, located north of Mapes Road and west of Antelope Road in unincorporated Riverside County.
DISCUSSION
Tract Map 37358 (TM37358), also known as Pacific Parkview (“Project”), is a residential development located within the unincorporated area of the Riverside County that borders the city limits of Menifee. The Project consists of the development of 156 lots for residential homes and is conditioned to construct improvements to the Project frontage along Mapes Road and Antelope Road. While the residential development falls outside the City limits, the offsite improvements on Mapes Road extend into the City limits. As such, the Project has been conditioned by the City to enter into a public improvement agreement and provide street and drainage securities to ensure the Project improvements occurring within the City are constructed in a timely manner and meet the City’s roadway construction standards.
Cal-Equity, LP, a California Limited Partnership and a subsidiary of Pacific Communities (“Developer”), is now requesting approval of the Public Improvement Agreement (“PIA”) as required by the Project’s conditions of approval. The PIA requires that improvement securities are posted to guarantee the completion of the required improvements within 24 months from the City Council approval date of the agreement.
Staff has reviewed the Developer’s request and determined that the PIA meets the requirements of the City for work within the City’s right-of-way. A summary of the bonds being posted to guarantee the required improvements is shown in Table1 on the following page.
City of Menifee Staff Report
Public Improvement Agreement TM 37358
June 5, 2024
2 1
8 6
TABLE 1- TM37358 - OFFSITE IMPROVEMENT SECURITIES
Improvement Security Faithful Performance Labor & Materials Streets and Drainage 4466679 $ 355,500 $ 177,750
Total $ 355,500 $ 177,750
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 associated with the review of TM37358.
ATTACHMENTS
1. Project Map
2. Agreement
3. Bond