CITY OF MENIFEE
SUBJECT: Agreement and Bonds for Parcel Map 38886 and Tract Map 31229-1 for Nautical Cove, by KB Home Cal Management
Services, LLC.
MEETING DATE: March 18, 2026
TO: Mayor and City Council
PREPARED BY: Amanda Backlund, Assistant 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 filing of Parcel Map 38886 for financing purposes for Nautical Cove, by KB Home Cal Management Services, LLC, located west of Briggs Road, north of Holland Road, south of Tres Lagos Drive, and east of Southshore Drive; and
2. Approve and authorize the City Manager to execute an agreement to guarantee completion of the survey monuments associated with Parcel Map 38886; and
3. Authorize the City Clerk to record the Declaration of Covenants and Restrictions with Parcel Map 38886 with the Riverside County Clerk Recorder’s Office; and
4. Approve and authorize the filing of Tract Map 31229-1 for Nautical Cove, by KB Home Cal Management Services, LLC; and
5. Approve and authorize the City Manager to execute an agreement to guarantee completion of the survey monuments associated with Tract Map 31229-1.
DISCUSSION
Parcel Map 38886 (PM38886), also known as Nautical Cove (Project), is a proposed subdivision of 78.62 gross acres of land into three parcels for financing purposes. The parcel is located west of Briggs Road, north of Holland Road, south of Tres Lagos Drive, and east of Southshore Drive.
KB Home Cal Management, LLC (Developer), is now requesting approval and filing of the parcel map for financing purposes. The Project's conditions of approval (COA) require the attached
City of Menifee Staff Report
Agreements and Bonds – PM38886, TM31229-1 - Nautical Cove March 18, 2026
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Declaration of Covenants and Restrictions to be recorded concurrently with PM38886 to memorialize the COA that apply to the parcels.
The Developer is requesting approval of the associated Agreement for Placement of Survey Monuments (PM38886 Agreement) as required by the Project’s COA. The PM38886 Agreement requires that improvement securities be posted to guarantee the completion of the required survey monument within 24 months from the date of City Council approval.
Tract Map No. 31229-1 (TM31229-1), the first phase of the Project, it is a proposed residential development by the Developer of 48.97 acres, for residential purposes. TM31229-1 proposes to construct 120 single-family lots, two private water quality basins, a private park, and a private lake. This phase of the Project is located within parcel 1 of PM38886.
On January 21, 2026, a Public Improvement Agreement and securities for TM31229-1 were approved by City Council to facilitate the start of work before map recordation. At that time, the Developer voluntarily assumed the risk, without liability to the City, that the Project’s final map may not be approved, or may be approved with different improvement plans or COAs than those anticipated.
The Developer is now requesting approval and filing of TM31229-1 and approval of the associated Agreement for Placement of Survey Monument (TM31229-1 Agreement) as required by the Project’s COA. The TM31229-1 Agreement requires that improvement securities be posted to guarantee the completion of the required survey monument within 24 months from the date of City Council approval.
Staff have reviewed the Developer’s request and determined that the Agreements meet the requirements of the Project’s COA. A summary of the bonds being posted to guarantee the required improvements are shown in Tables 1 and 2 below.
TABLE 1 – SURVEY MONUMENT (PM38886)
Improvement Security
Survey Monument 0268054 $ 37,000
Total $ 37,000
TABLE 2 – SURVEY MONUMENT (TM31229-1)
Improvement Security
Survey Monument 72BSBJF7030 $ 25,000
Total $ 25,000
The total securities required for all improvements have been provided by the Developer in the amount of $62,000.
STRATEGIC PLAN OBJECTIVE
Safe and Vibrant Community
City of Menifee Staff Report
Agreements and Bonds – PM38886, TM31229-1 - Nautical Cove March 18, 2026
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FISCAL IMPACT
There is no fiscal impact associated with the recommended action. The Developer has paid all necessary fees associated with the review of the Agreement and securities. Upon completion of the Improvements, and subsequent acceptance by the City, ongoing maintenance costs for the improvements would be supported through future fiscal year budgets in maintenance Community Facilities District 2017-1 Annexation 34, Zone 34.
ATTACHMENTS
1. Project Map
2. Parcel Map 38886
3. Declaration of Covenants and Restrictions - PM38886
4. Agreement – Survey Monument (PM38886)
5. Bonds – Survey Monument (PM38886)
6. Final Map – TM31229-1
7. Agreement – Survey Monument (TM31229-1)
8. Bonds – Survey Monument (TM31229-1)