COUNCIL AGENDA REPORT
TO: Mayor and City Council
FROM: Donna G. Schwartz, Chief Deputy City Clerk
DATE: March 18, 2025
SUBJECT: Request for Bond Release for Celebration II, Tract 5993
Description:
The City Council will consider authorizing the bond release for Celebration II, Tract 5993.
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, accept as complete the public improvements associated with Celebration, Tract 5993, and authorize the release of Faithful Performance Bond [#0666061] in the full amount of $164,371.63 posted in the form of a Surety to guarantee the construction and installation of public improvements on-site; and order the Labor and Material Bond in the amount of $82,185.82 and the Guarantee and Defective Material Bond in the amount of $16,437.16 be retained for six months and one year, respectively, from the dat e of the release of the Faithful Performance Bond for public improvements.
BACKGROUND:
The Final Map and Subdivision Improvement Agreement for this subdivision were approved by City Council on November 1, 2016.
DISCUSSION:
At the request of the developer, inquiries were sent to the various departments on January 29, 2025, requesting authorization to release the Faithful Performance Bond in the original amount of $164,371.63. Full releases were granted by each department.
Fiscal Considerations
None.
ATTACHMENT(S)
A. Department Requests to Release