COUNCIL AGENDA REPORT
TO: Mayor and City Council
FROM: Donna G. Schwartz, Chief Deputy City Clerk
DATE: January 21, 2025
SUBJECT: Request for Bond Reduction for Northman Residential, Tract 6018
Description:
The City Council will consider authorizing the bond re duction for Northman Residential, Tract 6018.
Environmental Notice: The activity is not a “Project” as defined under Section 15378 of the California Environmental Quality Act State Guidelines; therefore, pursuant to State Guidelines Section 15060(c)(3) no environmental review is required.
RECOMMENDATION:
By motion, authorize the reduction of Faithful Performance Bond – Public Improvements [#4457483] in the partial (50 percent) amount of $ 992,954.32 posted in the form of a Surety to guarantee the construction and installation of public improvements; and authorize the reduction of Faithful Performance Bond – Landscaping & Irrigation [#4457484] in the partial (50 percent) amount of $ 263,700.50 posted i n the form of a Surety to guarantee landscaping, trees, irrigation.
BACKGROUND:
The Parcel Map and Agreement for this subdivision were approved by City Council on November 15, 2022.
DISCUSSION:
At the request of the developer, inquiries were sent to the various departments on December 19, 2024, requesting authorization to reduce the Faithful Performance – Public Improvements in the amount of $992,954.32 and Faithful Performance – Landscaping & Irrigation in the amount of $263,700.50. The stated reduc tions were granted by each department.
Upon completion, staff will request full release of the Faithful Performance Bonds from City Council.
Attachments:
A – Bond Reduction – Release Requests